(Photo: Scott Olson, Getty Images)
The sale to AB Acquisition, an investor group led by Cerberus Capital Management, will include 877 stores.
The group will acquire the stores for $100 million in cash, and the new company will assume $3.2 billion in existing debt.
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.
Supervalu said grocery retail veteran Sam Duncan will succeed CEO and Chairman Wayne Sales after the sale.
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