(Reuters) - Supervalu Inc
Supervalu said it should close the deal to sell five of its supermarket chains to an investor group led by Cerberus Capital Management LP
Supervalu is retaining its food wholesaler serving 1,950 U.S. stores; the 1,300-store Save-A-Lot discount grocery chain; and the regional grocery chains Cub, Farm Fresh, Shoppers, Shop 'n Save and Hornbacher's.
Former OfficeMax Inc
Ritchie Casteel was named Save-A-Lot's president and CEO, replacing Santiago Roces. Eric Hymas was named president of Shop 'N Save, replacing Marlene Gebhard.
Several Supervalu executives will be leaving once the deal is completed, including Kevin Holt, president of Supervalu retail; Tim Lowe, executive vice president of merchandising; and Michael Moore, executive vice president and chief marketing officer, the company said.
(Reporting by Jessica Wohl in Chicago; Editing by Lisa Von Ahn)