SHARECOMMENTMORE

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.