Shaping Save A Lot: How CEO Kenneth McGrath is Turning the Discount Grocer Around
Earlier that year, its Minnesota-based parent company, SuperValu Inc., had tried to spin off Save A Lot as a separate company. When that failed, SuperValu offloaded it for $1.4 billion to Onex Corp., a Canadian private equity firm, which promptly began searching for a new CEO who could turn things around. They found that person in Kenneth McGrath. …