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Allied Supermarkets Stage: LBOs and Special Situations Date of Investment: 1981
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In October 1981, Allied Supermarkets, Inc., a Detroit-based chain, emerged from bankruptcy with funding provided by Warburg Pincus. In March 1986, Allied was re-listed on the New York Stock Exchange. In 1987, Allied sold all of its remaining operating assets to its management and simultaneously purchased Vons, receiving cash and a 50% interest in the surviving company. In 1988, Vons purchased the Southern California operations of Safeway Stores, Inc., becoming the largest food retailer in Southern California at the time. In 1989, Warburg Pincus sold its position in Vons.
