Jewel-Osco has about 200 stores in the Chicago area and ranks No. 1, with more than 40% of the market, Noddle said. Supervalu announced Jan. 23 that it has sold 26 Cub Foods stores in the Chicago area to Cerberus. The price of that transaction was not disclosed.
The sale is subject to approval of the stockholders of both Supervalu and Albertson’s.
“We think this is a very good price and a very fair price for the assets we are acquiring,” he said.
Noddle said there were no immediate plans to change the names of any of the stores. He also stressed that local stores would continue to control what products they promote and display but said the expanded Supervalu would help improve operational efficiency with an expanded distribution network and greater purchasing power.