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Supervalu to sell 5 supermarket chains to Cerberus

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NEW YORK (AP) -- Supervalu Inc. is selling off five of its grocery chains, including Albertson's 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 Albertson's in the South and Southwest.

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