Supervalu Inc. will more than double in size and become the nation’s second-largest traditional grocery store chain after claiming the lion’s share of Albertsons Inc. as part of a $9.7 billion buyout.

Only Kroger Co. will be larger once Supervalu takes over 1,124 stores under the Albertsons, Acme Markets, Bristol Farms, Jewel-Osco and Shaw’s Supermarkets banners.

The expanded Supervalu will have 2,656 stores nationwide.

CVS of Woonsocket, R.I., is purchasing about 700 stand-alone Sav-on and Osco Drugstores and a distribution center in La Habra, Calif., for $2.93 billion in cash.

It will also acquire real estate interests in the drug stores for $1 billion.

The other purchasers, led by Cerberus Capital Management, will acquire 655 stores in Dallas/Fort Worth, California, Florida, the Rocky Mountains and the Southwest. The group plans to operate the stores under the Albertson’s name.