Supervalu is selling these banners plus Star Market to Cerberus

Supervalu is selling these banners plus Star Market to Cerberus.

Supervalu Sells Off Big Chains

“When we announced our review of strategic alternatives this past summer, our goals were to improve our business, better position the company for the future, and create the best opportunity to deliver significant shareholder value. I believe we have accomplished these goals.” — Wayne C. Sales, president and CEO, Supervalu

MINNEAPOLIS — Supervalu here said last week that it has reached an agreement to sell its Albertsons, Jewel-Osco, Acme, and Shaw’s and Star Market banners to a group led by Cerberus Capital Management in a transaction valued at $3.3 billion.

The deal, projected to close by the end of the first quarter, would reunite the two Albertsons banners that had been split since Supervalu acquired most of that

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