SUPERVALU Completes Acquisition of Unified Grocers
June 23 2017 - 6:25PM
Business Wire
SUPERVALU INC. (NYSE: SVU) today announced it has completed the
previously announced acquisition of Unified Grocers, Inc. in a
transaction valued at $390 million, comprised of $114 million in
cash to Unified Grocers’ shareholders for 100 percent of the
outstanding stock of Unified Grocers plus the assumption and
pay-off at closing of Unified Grocers’ net debt of approximately
$276 million.
“The completion of this transaction is a significant step
forward for SUPERVALU and the growth of our wholesale business,”
said Mark Gross, SUPERVALU’s President and Chief Executive Officer.
“Our teams are fully engaged in the important work of integrating
these two great organizations with a continued focus on delivering
for our customers and stockholders. We’re excited about working
with the many talented associates to supply and serve our expanded
and highly diverse customer base.”
About SUPERVALU INC.(The
following information on sales, store counts and employees is as of
SUPERVALU’s last fiscal year end and does not include Unified
Grocers)
SUPERVALU INC. is one of the largest grocery wholesalers and
retailers in the U.S. with annual sales of approximately $12
billion in fiscal 2017. SUPERVALU serves customers across the
United States through a network of 2,363 stores including 1,902
stores operated by wholesale customers serviced primarily by the
Company’s food distribution business and 217 traditional retail
grocery stores operated under five retail banners in six geographic
regions (store counts as of February 25, 2017). Headquartered in
Minnesota, SUPERVALU has approximately 29,000 employees.
Founded in 1922, Unified Grocers is a wholesale grocery
distributor that supplies independent retailers throughout the
western United States. Unified and its subsidiaries offer
independent retailers all the resources they need to compete in the
supermarket industry.
For more information about SUPERVALU visit www.supervalu.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20170623005719/en/
SUPERVALU INC.Investor Contact:Steve
Bloomquist, 952-828-4144steve.j.bloomquist@supervalu.comorMedia
Contact:Jeff
Swanson, 952-903-1645jeffrey.s.swanson@supervalu.com
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