Jewel-Osco Sold To Investor Group
Lastest News Headlines:
Get Breaking News First
CHICAGO (CBS) — A grocery store fixture in Chicago is getting a new owner.
Jewel-Osco, along with four other grocery store chains, has been sold by parent company Supervalu Inc.
In addition to Jewel, the $3.1 billion deal includes Albertsons, Acme, Shaw’s and Star Market.
The sale to AB Acquisition, an investor group led by Cerberus Capital Management, will include 877 stores.
Following the sale, Supervalu will consist of a food wholesaler, Save-A-Lot, and regional chains Cub, Farm Fresh, Shoppers, Shop ‘n Save and Hornbacher’s.
(TM and © Copyright 2013 CBS Radio Inc. and its relevant subsidiaries. CBS Radio and EYE Logo TM and Copyright 2012 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed. The Associated Press contributed to this report.)