As bidders wait, Bruno's prepares for sale
Jan 1, 2005 12:00 PM
Formal talks have begun between Bruno's Supermarkets Inc and a union that represents many of the chain's employees. Bruno's says it wants to expedite completion of a new contract so the company can be sold.
In a letter to employees, Bruce Efird, general manager of Bruno's, and United Food and Commercial Workers Local 1657 President Elaise Fox said a new union contract is vital to the firm's sale.
Netherlands-based company Royal Ahold placed Bruno's and Mauldin SC-based BI-LO on the market in February, after previously linking both companies in a restructuring.
According to the Birmingham (AL) News, Cerberus Capital Management, a New York investment firm, is a potential purchaser of Bruno's and BI-LO. At least one other firm has made an offer, the newspaper said. Bids for purchase were due in late July.
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