Jewel-Osco stores will be sold to a consortium of investors led by Cerberus Capital Management, Jewel's parent Supervalu said Thursday.
The deal, valued at $3.3 billion, also includes the Albertsons, Acme, and Shaw stores.
The announcement ends months of speculation that all or parts of the troubled grocery chain would be sold to New York-based Cerberus, an investment firm. Supervalu acquired Jewel in 2006 as part of a larger, complex acquisition of the Albertsons company.
Supervalu also reported a profit of $16 million, or 8 cents per share, in the third quarter ended on Dec. 1, compared with a year-earlier loss of $750 million, or $3.54 per share, Reuter reported.
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