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Supervalu to be acquired in a nearly $ 3B deal



Eden Prairie-based supermarket chain Supervalu is acquired by United Natural Foods in a deal worth nearly $ 3 billion, the two companies said Thursday.

The Unified Company Will Leave Supervalu's Existing Retail Store Cub Foods, Hornbachers and Shop & # 39; Save

Supervalu, whose share price has languished for years, was under pressure from New York-based investment firm Blackwells Capital LLC. She wanted to take Supervalus's four grocery banners, including the largest, Cub Foods, for nothing and probably sell the item to the highest bidder.

CEO and Chairman Steven Spinner of United Natural Foods will lead the combined company. [1

9659002] The deal will see UNFI acquire Supervalu for $ 32.50 per share in cash, or approximately $ 2.9 billion, including the assumption of outstanding debt.

The true value of Supervalu lies in its much more profitable wholesale, which accounts for 70 units of its revenue. Supervalu, led by CEO Mark Gross since 2016, has made several purchases from other wholesalers such as Unified Grocers and Associated Grocers in 2017.

Supervalu has about 23,000 employees.

United Natural Foods, based in Providence, RI, is a distributor of natural and organic foods. It has a distribution center in Prescott, Wisconsin to serve the Twin Cities region.

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