Supervalu to sell 5 supermarket chains to Cerberus
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.
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