Supervalu to Sell Jewel-Osco Stores
Deal is expected to be finalized this spring.
Jewel-Osco parent company Supervalu on Thursday announced it will sell the grocery store chain — along with its Albertsons, Acme, Shaw’s and Star Market chains — in a $3.3 billion deal. Jewel-Osco’s Palos-area stores are located on Harlem Avenue in Palos Heights and at 9652 W 131st St. in Palos Park. The grocery stores, plus affiliated in-store Osco and Sav-On pharmacies, are being sold to a consortium of investors led by Cerberus Capital Management, according to the Minnesota-based Supervalu. The deal, which includes $100 million in cash and $3.2 billion in debt, is expected to close this spring, according to the Chicago Tribune. The five grocery store chains will be acquired by Cerberus affiliate AB Acquisition, the paper reported. After…
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