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January 11, 2013

Supervalu to sell 5 supermarket chains

NEW YORK (AP) — Supervalu Inc. is selling five of its grocery chains, including Albertsons and Jewel-Osco, after years of being squeezed by intensifying competition.

The nation's No. 3 traditional supermarket operator said Thursday that the sale of 877 stores to an investor group led by Cerberus Capital Management will also include Acme, Shaw's and Star Market. The group already owns about 200 Albertsons in the South and Southwest.

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