USA: Supervalu to complete acquisition of Unified Grocers

US retail and wholesale firm Supervalu has completed the acquisition of wholesale grocery cooperative Unified Grocers for $390 million. The deal is comprised of $114 million in cash and $276 million for outstanding net debt.

Supervalu has annual sales of about $13 billion, while Unified Grocers annual sales are approximately $3.8 billion.

Mark Gross, president and chief executive officer of Supervalu commented: “The completion of this transaction is a significant step forward for Supervalu and the growth of our wholesale business. 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”.

With the merger, Supervalu will maintain Unified Grocers’ headquarters along with management and employees. The combined company will operate 24 distribution centres supplying 46 states in the USA.

Source: Food Business News