SUPERVALU Continues to Prepare for Possible Separation of Its Save-A-Lot Business
August 02 2016 - 6:04PM
Business Wire
SUPERVALU INC. (NYSE: SVU) today reaffirmed that it is preparing
for a separation of its Save-A-Lot business. As part of that
process, SUPERVALU has pursued and continues to pursue a spin-off
of Save-A-Lot, as described in the preliminary Information
Statements on Form 10 filed with the U.S. Securities and Exchange
Commission. SUPERVALU is, however, prepared to consider other
alternatives to improve stockholder value, and in this regard is
also evaluating a possible sale of Save-A-Lot.
SUPERVALU generally does not comment on potential transactions
and does not intend to update this statement other than in
connection with the Form 10 process and/or unless and until a
definitive transaction agreement is entered into. There can be no
assurance that a separation of Save-A-Lot will be completed, as to
the form or timing of any such separation, or that any other change
in the Company’s overall structure or business model will
occur.
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 terms, timing or structure of any separation transaction and
whether one will be consummated at all, the impact of any
separation transaction on the businesses of SUPERVALU and the
Save-A-Lot business on a standalone basis if the separation were to
be completed, whether the operational and strategic benefits of a
separation can be achieved and whether the costs and expenses of
the separation can be controlled within expectations. Other factors
include competition, ability to execute operations and initiatives,
ability to realize benefits from acquisitions and dispositions,
reliance on wholesale customers and licensees ability to grow or
maintain identical store sales, ability to maintain or increase
margins, substantial indebtedness, labor relations issues,
escalating costs of providing employee benefits, relationships with
Albertson’s LLC, New Albertson’s, Inc. and Haggen, intrusions to
and disruption of information technology systems, impact of
economic conditions, commodity pricing, governmental regulation,
food and drug safety issues, legal proceedings, pharmacy
reimbursement and health care financing, intellectual property
protection, severe weather, natural disasters and adverse climate
changes, disruption to supply chain and distribution network,
changes in military business, adequacy of insurance, volatility in
fuel and energy costs, asset impairment charges, fluctuations in
our common stock price and other risk factors relating to our
business or industry as detailed from time to time in SUPERVALU's
reports filed with the SEC. 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/20160802007031/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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