A management group has organized a leveraged...
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A management group has organized a leveraged buyout to purchase all assets of Wayne, N.J.-based Grand Union Co., one of the nation’s largest supermarket chains with 360 stores in 11 Eastern states. Chairman and Chief Executive Floyd Hall, who is leading the management group, said the transaction is scheduled to be completed by March 1, subject to obtaining the necessary financing. Terms were not disclosed. Grand Union is a subsidiary of Paris-based Generale Occidentale.
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