As Acme Sale Goes Final, Casey Urges New Owners to Keep Jobs in PA

Company Has Nearly 120 Year History in Commonwealth

New Ownership Group Has Cast Uncertainty Over State of Jobs

Washington DC- Today, U.S. Senator Bob Casey (D-PA) urged the new owners of Acme Markets to maintain Pennsylvania jobs as it finalizes its purchase of the company. In a letter to Stephen Feinberg, Chief Executive Officer of Cerberus Capital Management, Casey cited Acme’s deep roots in the region and the productivity of the workforce in urging the new owners to maintain jobs.

“Acme employs hundreds of Pennsylvanians and I’m urging Acme’s new owners to preserve these jobs,” Casey said. “Acme has a long history in Pennsylvania and its workforce has proven to be efficient and effective.”  

 

Acme has a long history in Pennsylvania; it opened its first store in 1891 in South Philadelphia, and today has more than 100 stores in four states, almost 50 of which are in Pennsylvania.  Acme is one of the largest food retailers in Philadelphia, and is a significant employer in Eastern Pennsylvania. Earlier this year, Cerberus Capital reached an agreement to purchase a number of grocery store chains from Supervalu, including Acme. The effect of this deal on the company’s employees remains uncertain.

 

The text of Senator Casey’s letter can be found below:

Mr. Stephen A. Feinberg

Chief Executive Officer

Cerberus Capital Management, L.P.

875 Third Avenue

New York, NY 10022

Dear Mr. Feinberg:

I write in regard to Cerberus Capital Management’s recent acquisition of a number of grocery store chains from Supervalu Inc.  Acme Markets, which is headquartered in Pennsylvania, was among the companies included in this sale.

Acme has a long history in Pennsylvania; it opened its first store in 1891 in South Philadelphia, and today has more than 100 stores in four states, almost 50 of which are in Pennsylvania.  Acme is one of the largest food retailers in Philadelphia, and is a significant employer in Eastern Pennsylvania.

Your ownership represents a fresh start for Acme and its employees.  As you take ownership of Acme, I urge you to protect the jobs of Acme employees.  I hope that we can work together to ensure that Acme remains an important employer in the region.

Thank you for your consideration of this request.

Sincerely,

Robert P. Casey, Jr.

United States Senator