SUPERVALU to sell 5 chains, names new CEO

SUPERVALU will sell five of its grocery chains to a Cerberus Capital Management-led investor group for $3.3 billion. The transaction includes 877 locations from the Albertsons, Acme, Jewel-Osco, Shaw's and Star Market banners. Separately, SUPERVALU has named former OfficeMax CEO Sam Duncan as its CEO.

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