Supervalu has signed a deal to sell 19 Shop 'n Save stores to Schnuck Markets. The acquisition also includes a stand-alone pharmacy, 15 in-store pharmacies, and four fuel centers. The properties are primarily located in the St. Louis, Missouri area. Under the terms of the deal, Supervalu will become the primary supplier for nine Schnuck’s stores in Illinois, Iowa, and Wisconsin.
Mark Gross, Supervalu's President and CEO, says this transaction is an important step in the continued transformation of their business.
Supervalu announced plans to sell the Shop ‘n Save banner this spring. The portfolio includes a total of 36 grocery stores and those not sold to Schnuck that currently remain open will be closed at the end of the year if they aren’t sold. Supervalu's St. Louis Distribution Center, which predominantly serves Shop 'n Save stores, is also expected to close this year.
Related: UNFI to Acquire Supervalu; Supervalu May Be Exploring Sale.
from Specialty Food News https://ift.tt/2DaSn6S
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