|View printer-friendly version|
|SUPERVALU Announces Sale of Bristol Farms Division|
MINNEAPOLIS, Oct 29, 2010 (BUSINESS WIRE) --
SUPERVALU (NYSE: SVU) announced today the sale of its Bristol Farms division (14 stores) to a company formed through a partnership with the Bristol Farms management team and Endeavour Capital, an investment firm experienced in grocery and retail businesses. Under the terms of the sale, the stores will change ownership effective today, but will continue to operate under the Bristol Farms name and the existing management and associate base will continue to serve customers without disruption.
"SUPERVALU continuously evaluates its operations to identify opportunities to strengthen its overall business and, when necessary, makes decisions that involve the sale of some locations," said Brian Huff, SUPERVALU senior vice president, Specialty Retail. "This move will ultimately allow SUPERVALU to operate more efficiently and effectively and focus on improving the shopping experience throughout its entire network of owned and supplied stores."
About SUPERVALU INC.
SUPERVALU INC. is one of the largest companies in the U.S. grocery channel with estimated annual sales of $38 billion. SUPERVALU serves customers across the United States through a network of approximately 4,280 stores composed of approximately 1,160 traditional retail stores, including 813 in-store pharmacies; 1,210 hard-discount stores, of which 876 are operated by licensee owners; and 1,910 independent stores serviced primarily by the company's traditional food distribution business. SUPERVALU has approximately 150,000 employees. For more information about SUPERVALU visit http://www.supervalu.com.
SOURCE: SUPERVALU INC.