Supervalu Selling Five Grocery Chains To Cerberus

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Supervalu announced a definitive agreement to sell five of its retail grocery chains and up to 30 percent of the remaining company to an investor group led by Cerberus Capital Management, for more than $3.5 billion.

The grocery stores chains — Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market — consist of 877 stores stores and related Osco and Sav-on in-store pharmacies. Supervalu retains ownership of St. Louis-based Save-A-Lot as well as regional chains and its wholesale food distribution business.

Read more in the St. Louis Business Journal

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