Sale of Jewel-Osco Part of $3.3 Billion Deal, Could Mean Lower Prices
Supervalu announced Thursday it was selling Jewel-Osco and four other grocery store chains.
Supervalu announced Thursday it will sell Jewel-Osco and four other grocery chains for $3.3 billion to AB Acquisition, according to the Chicago Sun-Times.
The sale includes 877 stores, including "Albertsons, Acme, Shaw’s and Star Market stores and related Osco and Sav-on in-store pharmacies," the Sun-Times reported.
If the firm decides to keep stores open, the sale could mean lower prices for Jewel-Osco patrons. Jewel previously had to purchase its goods wholesale from Supervalu. Now it can shop around for better deals.
However, there is speculation that the buyout firm now in charge of its future could close stores or sell them to the highest bidder.
Jewel has 170 stores in the Chicago area and has the leading market share with 30 percent,according to the Sun-Times.
Jewel-Osco has one location in Bolingbrook at 1200 W. Boughton Rd.