SAINSBURY IN US ACQUISITION.
The UK supermarket group J. Sainsbury Plc is buying the North-Eastern US food retail chain Star Markets Co. from Investcorp, a Bahrain-based investment group, for about USD490 million. Sainsbury, the former owner of US supermarket chain Giant, now operates Shaw's Supermarkets, Inc., an East Bridgewater, Massachusetts-based supermarket retailer. The Cambridge, Massachusetts-based Star operates 53 supermarkets in greater Boston and Cape Cod. The company, a unit of Star Markets Holdings Inc., also operates four Wild Harvest natural food markets, as well as a wholesale food business that serves more than 70 supermarkets in New England and...
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