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|SUPERVALU and Remke Markets Announce Sale of bigg's Stores|
MINNEAPOLIS & ERLANGER, Ky., Mar 29, 2010 (BUSINESS WIRE) --SUPERVALU (NYSE: SVU) and Remke Markets announced today that they have entered into an agreement for the transfer of ownership of six Greater Cincinnati bigg's stores and their pharmacies. As part of the transaction, Remke will purchase the following locations:
"We are absolutely thrilled to welcome these bigg's stores and their customers into the Remke family," said Bill Remke, president and CEO of Remke Markets. "The bigg's stores bring many assets to our organization, and we look forward to blending the strengths of two great grocery chains to create an organization committed to service, quality and value."
The transaction is expected to close in spring 2010 and will bring Remke Markets' complement of locally owned and operated stores to 13. Each of these locations will be supplied by the SUPERVALU distribution center in Xenia, Ohio.
"We look forward to working with the Remke organization through our supply relationship as they strengthen their overall presence in the marketplace," said Janel Haugarth, SUPERVALU executive vice president and president/chief operating officer of the Minneapolis-based company's Supply Chain Services organization
Remke has been in the grocery business for more than 113 years and the company will remain committed to the quality personal service and care customers have come to know and trust.
"We are completely committed to being a strong, locally run independent grocer in the Greater Cincinnati area," stated Remke. "This purchase, and the ability to work with SUPERVALU via our supply relationship, will allow our entire organization to expand and give us the opportunity to provide even more quality products, personal service, value and convenient locations to all customers."
SUPERVALU plans to close its five remaining bigg's stores before the end of May. These locations include:
Prescription files at the Florence bigg's store will be transferred to Remke Market's Turfway store later this spring. The other four pharmacies' files will be transferred to another local company.
About Remke Markets
SOURCE: SUPERVALU INC.