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Save-A-Lot chain sells for $1.37B
SaveLotWEB
Save-A-Lot cashier Hope Tenpenny scans items at the store at Northgate Center on Friday.
Canadian private equity firm Onex Corporation is buying discount grocery chain Save-A-Lot for $1.37 billion in cash, the companies said Monday.Minneapolis-based Save-A-Lot is owned by parent company Supervalu, which had been looking to offload the no-frills chain, which is known for attracting bargain shoppers with its low prices. Save-A-Lot has 1,368 stores across 37 states, the Caribbean and Central America, including a store at Northgate Center in McMinnville. When contacted Friday, management at our local store did not expect any changes.Of its 1,370 stores, Save-A-Lot owns 472, and licenses and supplies another 896.