"The transactions announced today represent the successful culmination of the in-depth strategic review process we commenced this past summer," Wayne Sales, said in a statement. "Following the Sale, SUPERVALU will have three strong, market-leading business units with more consistent cash flows and improved EBITDA growth potential," Sales added.
"We are pleased to be making this investment and look forward to helping build long-term value for all stakeholders," Lenard Tessler, a senior managing director at Cerberus said in a statement. "We believe these transactions will create stronger, more competitive businesses," he added.
-- Written by Antoine Gara in New York