Skip to main content

Supervalu closes deal to sell 5 grocery chains

  • Author:
  • Updated:
    Original:

Supervalu Inc. has completed the sale of its Albertsons, Acme, Jewel-Osco, Shaw's and Star Market stores to an investor group led by Cerberus Capital Management, the Star Tribune reports.

The embattled Eden Prairie-based supermarket giant announced the $3.3 billion deal to sell five of its retail chains earlier this year.

Supervalu will still own Cub Foods and four other smaller regional chains.

Retail veteran Sam Duncan, who was named president and chief executive officer of Supervalu in January, will lead the trimmed-down company.

“As we move forward, Supervalu will continue as one of the largest wholesale grocery providers in America serving nearly 2,000 independent retailers in 43 states; we plan to continue growing our hard discount Save-A-Lot format that includes over 1,300 stores nationwide; and we will operate five, strong regional retail banners," Duncan said in a news release. "I am pleased to be leading Supervalu during this time of change and strongly believe there is an exciting future ahead for us.”

Next Up

2 (3)

Focus is on family fitness at this year’s Twin Cities Marathon

Don’t miss out on the running, racing and all the fun things to do for the whole family

Screen Shot 2022-08-18 at 2.29.47 PM

Family's tributes to mother killed by partner in St. Paul murder-suicide

The 30-year-old was killed by her partner, who then killed himself.

FatalEaganCrashSceneAug18

Eagan man killed after crashing into traffic signal

The 30-year-old crashed into a traffic light early Wednesday morning.

Melvin Carter

What's in Mayor Melvin Carter's budget proposal?

Here's what the St. Paul mayor is putting his focus on for the upcoming year.

WCCO building

Digital, streaming employees at WCCO-TV vote to unionize

The 15 employees will join on-air talent and producers as members of the SAG-AFTRA union.

unnamed-3

Police arrest man suspected of sexual assault, weapons threat in Eagan

The investigation prompted a SWAT response in an Eagan neighborhood on Tuesday.

covid

Minnesota's COVID-19 update for the week ending Tuesday, August 16

The latest reporting period averaged just under 1,300 new cases per day.

USATSI_12923669

Jason and Carly Zucker sell Edina home for $4.18M

The property was bought in 2020, months after Jason Zucker was traded to the Pittsburgh Penguins.

Legacy Lot Random (1 of 6)

Gallery: Luxury living is par for the course here

Cragun’s Golf Resort Communities Offer Stunning Views Along with Resort-Style Living

Related