Jewel-Osco Stores to be Sold to Cerberus Capital Management
A total of 877 Supervalu, Inc. stores will be sold, including Jewel-Osco stores in northern Illinois.
The many Jewel-Osco stores across the country, including here in northern Illinois, are being sold with other Supervalu, Inc., stores to Cerberus Capital Management LP, the Chicago Sun-Times reported Thursday.
Under the $3.3 billion sale, Cerberus will take ownership of Albertsons, Acme, Shaw's and Star Market stores in addition to Jewel-Osco and Sav-on stores, according to the Sun-Times. The sale includes a total of 877 stores nationwide.
Locally, there are Jewel-Osco stores in Arlington Heights, Barrington, Buffalo Grove, Grayslake, Lake Forest, Lake Zurich, Libertyville, Palatine and many other communities.
According to a press release on the Supervalu website, the company will maintain ownership of 1,300 Save-A-Lot stores, along with regional stores like Cub, Farm Fresh, Shoppers, Shop 'n Save and Hornbacher's.