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

Gary Kubiak

Vikings offensive coordinator Gary Kubiak announces retirement

Kubiak wraps up a career that has spanned nearly four decades.

alphaMPD

Minneapolis police seeks public help finding missing woman

A 63-year-old woman has been missing since Tuesday

coronavirus testing

Don't want to talk to a contact tracer? MN debuts online option after positive test

The department says the survey will allow its staff to keep track of more cases at a faster pace

Family Dollar

Money Gal Coaching: 12 things you are wasting your money on

Kelly Blodgett started Money Gal Coaching after paying down nearly $50K in debt in 18 months.

police lights

Three teens charged in Minneapolis robberies

The incidents took place on Saturday in Minneapolis.

covid-19, coronavirus, ppe

Here is Minnesota's COVID-19 update for Thursday, January 21

It's the first time in exactly four months that Minnesota has had fewer than 100 COVID patients in intensive care.

icy roads, bad roads

Girl, 16, killed in crash with semi on icy Minnesota road

The crash happened in Dodge County around 8 a.m. Wednesday.

police lights

Road rage incident sees driver punch out man's window, punch him in face

The incident happened in Waite Park Wednesday morning.

Screen Shot 2019-10-11 at 7.01.24 AM

Minneapolis will recover $100K in costs connected to 2019 Trump rally

The Target Center operator said it'll pay the costs over three years.

Jacob Frey

Minneapolis Mayor Jacob Frey confirms run for reelection

He has faced criticism over the city's response to George Floyd's death.

Related