SUPERVALU Named Grocery Wholesaler by America’s Food Basket
November 09 2016 - 6:45AM
Business Wire
SUPERVALU INC. (NYSE:SVU) and America’s Food Basket (AFB) today
announced that SUPERVALU has been selected by AFB as a grocery
wholesaler and supplier. The parties have entered into a long-term
agreement for SUPERVALU to supply the AFB member stores with
traditional grocery products across a range of categories including
meat, deli, bakery, grocery, fresh produce, frozen foods and dairy.
SUPERVALU will distribute AFB’s “Ideal Brands” as well as provide
AFB stores with the ability to offer SUPERVALU’s private brand
products including Essential Everyday®, Wild Harvest®, and Culinary
Circle®.
Founded in 2007 and headquartered in Lake Success, New York, AFB
is a regional cooperative serving 47 neighborhood stores located
primarily in New York and parts of New England. AFB stores range in
size from 5,000 to almost 20,000 square feet and deliver a diverse
set of products to meet the needs of their local communities and
customers. AFB stores operate under three primary banners:
America’s Food Basket, Ideal Food Basket and Superfi Emporium.
“America’s Food Basket is a terrific regional co-op that
delivers a great neighborhood grocery experience for its
customers,” said Mike Stigers, Executive Vice President of
SUPERVALU’s Wholesale business. “Our plans to continue to grow
SUPERVALU’s wholesale business took another step forward today with
the addition of America’s Food Basket.”
SUPERVALU and AFB expect that a few of the 47 AFB member stores
will have transitioned to SUPERVALU supply before the end of
December 2016 with the balance of the remaining stores likely to
transition to SUPERVALU supply during the first quarter of calendar
2017.
“America’s Food Basket is moving into our fourth year of growth
while at the same time seeking opportunities to build our business
by exploring new avenues for operational excellence,” said Dan
Cabassa, CEO, America’s Food Basket. “We’re pleased to announce
this relationship with SUPERVALU as we believe it will help us
deliver a great offering for our shoppers.”
About America’s Food Basket
America’s Food Basket, LLC. is a cooperative which supports and
unifies independent retail stores across the Northeast United
States operating in New Jersey, New York, Connecticut, Rhode
Island, and Massachusetts. The Company leverages the size of its
purchases and merchandising operations to deliver the best cost and
efficiencies for its member stores. The stores operating under
three principle banners, America’s Food Basket, Ideal Food Basket,
and Superfi Emporium sell groceries and provide payment services at
its independent member retail locations. The company also provides
a line of grocery, dairy, and fresh products under its private
label brand, Ideal Brands, which can be viewed on its webpage
www.afbasket.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 3,382 stores composed of 1,815 stores
operated by wholesale customers serviced primarily by the Company’s
food distribution business; 1,370 Save-A-Lot stores, of which 888
are operated by licensee owners; and 197 traditional retail grocery
stores (store counts as of September 10, 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 of the transition of the America’s Food Basket 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20161109005270/en/
SUPERVALU INC.Investor ContactSteve Bloomquist,
952-828-4144steve.j.bloomquist@supervalu.comorMedia
ContactJeff Swanson,
952-903-1645jeffrey.s.swanson@supervalu.comorAmerica’s Food
BasketDan Cabassa, 516-502-2509 ext.
101dcabassa@afbasket.com
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