Supervalu to sell 5 chains to Cerberus-led group, posts profit

Thu Jan 10, 2013 9:12am EST

(Reuters) - Supervalu Inc (SVU.N), the No. 3 U.S. grocery store operator, said on Thursday it plans to sell five retail grocery chains to an investor group led by Cerberus Capital Management LP CBS.UL.

Supervalu also said it posted a quarterly profit.

It agreed to sell Albertsons, Acme, Jewel-Osco, Shaw's and Star Market stores and the related Osco and Sav-on in-store pharmacies as part of the deal.

It also reported a profit of $16 million, or 8 cents per share, in the third quarter ended on December 1, compared with a year-earlier loss of $750 million, or $3.54 per share.

Excluding an after-tax gain related to a cash settlement from credit card companies and after-tax charges primarily related to store closures, it earned $5 million, or 3 cents per share.

(Reporting by Lisa Baertlein in Los Angeles; Editing by Jeffrey Benkoe)