Wednesday, August 19, 2009
Shenandoah Life, Ukrops Apparently For Sale
A relatively new Roanoke grocer and a life insurance with deep roots in the Star City appear to be for sale. Ukrops, the Richmond-based food chain with a store in Roanoke, appears to be a possible acquisition of a private equity company. Supermarket World reported the possible sale.
Meanwhile, Shenanandoah Life in Roanoke, which ran into serious problems with bad investments and was taken over by the state recently, could well see a portion of its business, group insurance, sold. Assurant Employee Benefits of Kansas City will make an attempt to buy the business, according to The Roanoke Times.
The deal would have to be approved by regulators. Assurant is a Fortune 500 company with $24 billion in assets.