Sections

Weather Forecast

Close
Advertisement

Supervalu to sell 5 supermarket chains to Cerberus

Email

NEW YORK (AP) — Supervalu Inc. says it reached a deal to sell five of its biggest grocery chains — Albertson's, Acme, Jewel-Osco, Shaw's and Star Market — for $100 million in cash and more than $3 billion in debt.

The sale to AB Acquisition, an investor group led by Cerberus Capital Management, will include 877 stores. Cerberus will also offer to buy up to 30 percent of the remaining Supervalu for $4 per share after the deal closes.

Are you a newspaper subscriber but you don't have a Digital Access account yet? https://secure.forumcomm.com/?publisher_ID=40&event=subscriber/lookup.

You will need your subscription account number and phone number. Not sure if you have an account? Email us at subscriberservices@forumcomm.com and we can help you.

Advertisement
Advertisement
Advertisement
randomness