SUPERVALU Selected as Grocery Wholesaler by The Fresh Market
August 15 2016 - 6:30AM
Business Wire
SUPERVALU INC. (NYSE:SVU) and THE FRESH MARKET, INC. today
announced they have reached a long-term supply agreement for
SUPERVALU to serve as a grocery wholesaler and distributor to The
Fresh Market. Founded in 1982 and headquartered in Greensboro,
North Carolina, The Fresh Market is a specialty retailer focused on
providing delicious and healthy food and a high level of service to
its customers.
“The Fresh Market is a terrific organization with a tremendous
store base and a great consumer offering,” said SUPERVALU President
and CEO Mark Gross. “The stores offer a great shopping experience.
They are extremely well merchandised, meet customer demand with a
keen focus on fresh, and provide a wonderful mix of traditional and
specialty products. This is an excellent example of how our
experience, strong distribution network and overall wholesale
capabilities can serve larger grocery chains while also being
flexible to the needs of specialty-focused retailers.”
“We are excited about this relationship with SUPERVALU,” said
The Fresh Market President and CEO Rick Anicetti. “SUPERVALU’s
experience in wholesale grocery and logistics capabilities aligns
well with our strategic vision and will make them a valuable
strategic partner for our future. This new relationship will be
highly beneficial in enhancing our customer experience, with a
focus on providing superior quality and freshness at a greater
value.”
In its role as grocery wholesaler, SUPERVALU will supply The
Fresh Market with traditional and signature grocery products across
a range of categories including meat, deli, bakery, grocery, frozen
foods and dairy. The parties intend for SUPERVALU to become The
Fresh Market’s primary distributor upon the transition of The Fresh
Market’s current distributor relationships. SUPERVALU anticipates
it will begin serving some of The Fresh Market’s stores in the fall
and will take on additional stores as the transition continues.
About The Fresh Market,
Inc.
Founded in 1982, The Fresh Market, Inc. is a specialty grocery
retailer focused on providing high-quality products in a unique and
inviting atmosphere with a high level of customer service. The
company currently operates 176 stores in 24 states across
the U.S. For more information, please visit
www.thefreshmarket.com.
About SUPERVALU INC.
SUPERVALU INC. is one of the largest grocery wholesalers and
retailers in the U.S. with annual sales of approximately $18
billion. SUPERVALU serves customers across the United States
through a network of 3,342 stores composed of 1,773 stores operated
by wholesale customers serviced primarily by the Company’s food
distribution business; 1,368 Save-A-Lot stores, of which 896 are
operated by licensee owners; and 201 traditional retail grocery
stores (store counts as of June 18, 2016). Headquartered in
Minnesota, SUPERVALU has approximately 40,000 employees. For more
information about SUPERVALU visit www.supervalu.com.
CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION
FOR THE PURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE
SECURITIES LITIGATION REFORM ACT OF 1995.
Except for the historical and factual information contained
herein, the matters set forth in this news release, particularly
those pertaining to SUPERVALU’s expectations, guidance, or future
operating results, and other statements identified by words such as
“estimates,” “anticipates,” “expects,” “projects,” “plans,”
“intends” and similar expressions are forward-looking statements
within the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements are subject to risks and uncertainties that may cause
actual results to differ materially, including uncertainties as to
the timing and scope of the transition of The Fresh Market stores
and the resulting business impacts of this new supply agreement.
You should not place undue reliance on these forward-looking
statements, which speak only as of the date of this news release.
Unless legally required, SUPERVALU undertakes no obligation to
update or revise publicly any forward-looking statements, whether
as a result of new information, future events or otherwise.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160815005351/en/
SUPERVALU INC.For Investor RelationsSteve
Bloomquist, 952-828-4144Steve.bloomquist@supervalu.comorFor
MediaJeff Swanson,
952-903-1645Jeffrey.swanson@supervalu.com
Supervalu (NYSE:SVU)
Historical Stock Chart
From Apr 2024 to May 2024
Supervalu (NYSE:SVU)
Historical Stock Chart
From May 2023 to May 2024