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As bidders wait, Bruno's prepares for sale

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.

TAGS: Grocery
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