The deal, announced today (10 January), includes the group’s Albertson’s, Acme, Jewel-Osco, Shaw’s and Star Market stores in a deal worth $3.3bn, including $100m cash. Around 877 stores are included in the deal.
As part of the agreement, Cerberus will offer to buy up to 30% of Supervalu’s remaining stores for $4 per share after the deal closes.
The announcement ends months of speculation that all or parts of the troubled grocery chain would be sold to New York-based Cerberus.
In 2012, Supervalu revealed it was conducting a strategic review of its business in response to falling sales and profits.