Article updated: 1/10/2013 3:38 PM

Supervalu sells Jewel-Osco to Cerebrus group

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

Associated Press

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Supervalu Inc. says it reached a deal to sell five of its biggest grocery chains — Albertsons, Acme, Jewel-Osco, Shaw's and Star Market — for $100 million in cash plus more than $3 billion in debt. The sale to AB Acquisition, an investor group led by Cerberus Capital Management, will include 877 stores. The group will acquire the stores for $100 million in cash, and the new company will assume $3.2 billion in existing debt.