Supervalu sells Shaw's, other markets
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.