Supervalu completed its previously announced acquisition of Unified Grocers Inc. in a transaction that officials from the Minneapolis-based company describe as “a significant step forward for the growth of our wholesale business.”
The deal, which was announced in April and is valued at $390 million, is comprised of $114 million in cash for 100 percent of Unified Grocers’ shareholders, plus the assumption and pay-off of Unified’s 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/CEO. “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.”
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).