Supervalu sells Shaw’s, other markets

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Shaw’s Supermarket is about to have a new owner.

On Thursday, Jan. 10, Shaw’s parent company Supervalue Inc. announced that it will sell its Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market stores to AB Acquisition LLC, an affiliate of a Cerberus Capital Management L.P.-lead investor consortium that includes Kimco Realty Corporation, Klaff Realty LP. Lubert-Adler Partners and Schottenstein Real Estate Group.

The deal also includes Osco and Sav-on-in-store pharmacies, according to a press release.

The transaction has a total value of $3.3 billion. It will affect 877 stores total among the various chains.

The transaction is expected to be complete before the end of March.

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