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Supervalu completes sale of five chains to Cerberus-led investor group
New York -- Supervalu on Thursday announced the completion of the sale of its Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market stores and related Osco and Sav-on in-store pharmacies to AB Acquisition LLC, an affiliate of a Cerberus Capital Management-led investor consortium. The stock deal is valued at $3.3 billion, including $100 million in cash and $3.2 billion in debt assumption.
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Starbucks to expand loyalty program to Teavana and supermarkets
Seattle -- Starbucks Coffee Co. is expanding its customer loyalty program to the supermarket channel and its Teavana stores as it looks to double membership from 4.5 million members at the end of October 2012 to approximately nine million members by the end of fiscal 2013.
Starbucks made the announcement at the company’s annual shareholders on Wednesday in Seattle. Also at the meeting, Starbucks investors rejected a shareholder proposal to prohibit the chain from making political contributions or forming a political action committee.