Changeover of initial Rainbow stores underway, staggered openings
planned over next two weeks
SUPERVALU Independent Business to grow
MINNEAPOLIS--(BUSINESS WIRE)--Jul. 9, 2014--
SUPERVALU INC. (NYSE: SVU), one of the nation’s leading grocery
wholesalers, today announced that it has begun supplying the first of 18
Rainbow stores that are being acquired as part of the transactions that
were announced May 7 between Roundy’s and a consortium of SUPERVALU and
independent retailers. Following the store conversions, SUPERVALU will
supply all 18 of the acquired stores out of its Hopkins, Minnesota
SUPERVALU along with four Twin Cities-based independent retailers –
Jerry’s Enterprises, Haug Enterprises, Lund Food Holdings and
Radermacher Enterprises – are expecting to complete the store
conversions over the next two weeks. As previously announced, ten of the
18 stores will become Cub Foods locations, two will operate as Byerly’s
and the other six will remain Rainbow stores.
“I am very pleased that we are now adding these 18 stores to SUPERVALU's
distribution network and that we are expanding our supplier relationship
with a group of very strong independents and longtime customers of our
Independent Business segment. We expect these fine retailers will serve
the Twin Cities better than ever with an expanded store base,” said Sam
Duncan, SUPERVALU president and chief executive officer. “Each of these
independent retailers, along with Cub, are longtime grocers who know
this market and their customers and are actively involved in their
stores and communities.”
The 10 new Cub Foods will be located at:
Chaska – 200 Pioneer Trail
Lakeville – 17756 Kenwood Trail
Minneapolis (Lagoon) – 1104 Lagoon Ave.
Minneapolis (Quarry) – 1540 New Brighton Blvd.
Plymouth (6th Avenue) – 10200 6th Ave. North
Roseville (includes stand-alone liquor store) – 1201 Larpenteur Ave.
St. Louis Park (includes stand-alone liquor store) – 5370 16th
St. Paul (Arcade) – 892 Arcade Street
Eagan – 1276 Town Centre Drive
Oakdale – 7053 10th Street North
The six Rainbow stores will be located at:
Minneapolis (Lake Street) – 2919 26th Ave. South
Plymouth (Plymouth Station) – 16705 County Road 24
Richfield – 140 West 66th Street
West St. Paul – 1660 Robert Street South
Maplewood – 2501 White Bear Ave.
St. Paul (Midway) – 1566 University Ave. West
The two new Byerly’s stores will be located at:
Eden Prairie – 970 Prairie Center Drive
Woodbury (includes stand-alone liquor store) – 7050 Valley Creek Plaza
Store conversions at the Minneapolis (Lagoon), St. Paul (Arcade) and St.
Louis Park locations began Monday and opened today, July 9. The
remaining stores are expected to transition on a staggered basis over
the next two weeks.
About Cub Foods
Cub Foods offers customers the freshest
produce, widest selection and food expertise throughout the store to
meet their everyday grocery needs. In addition to innovative local,
ethnic and organic food sections, Cub Foods stores offer shoppers
multiple in-store services including fresh bakery, full-service deli and
meat departments, pharmacy and banking. Cub Foods, based in Stillwater,
Minnesota, was established in 1968 as one of the nation’s first discount
grocery stores. Cub Foods was purchased in 1980 by SUPERVALU and
operates 67 corporately-owned and franchised stores in Minnesota and
Illinois. For company news and information, follow us on Twitter at
@CubFoods and Facebook at www.facebook.com/Cub,
or visit our website at Cub.com.
About SUPERVALU INC.
SUPERVALU INC. is one of the largest
grocery wholesalers and retailers in the U.S. with annual sales of
approximately $17 billion. SUPERVALU serves customers across the United
States through a network of 3,339 stores composed of 1,819 independent
stores serviced primarily by the Company’s food distribution business,
1,330 Save-A-Lot stores, of which 948 are operated by licensee owners;
and 190 traditional retail grocery stores. Headquartered
in Minnesota, SUPERVALU has approximately 35,000 employees. For more
information about SUPERVALU visit www.supervalu.com.
CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE
PURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995.
Except for the historical and factual information contained herein,
the matters set forth in this news release, particularly those
pertaining to SUPERVALU’s expectations, guidance, or future operating
results, and other statements identified by words such as “estimates,”
“expects,” “projects,” “plans,” and similar expressions are
forward-looking statements within the meaning of the “safe harbor”
provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are subject to risks and uncertainties
that may cause actual results to differ materially, including
competition, ability to execute initiatives, substantial indebtedness,
impact of economic conditions, labor relations issues, escalating costs
of providing employee benefits, relationships with Albertson’s LLC and
New Albertson’s Inc., disruption of information technology systems,
governmental regulation, food and drug safety issues, legal proceedings,
severe weather, natural disasters and adverse climate changes,
disruption to supply chain and distribution network, changes in military
business, adequacy of insurance, volatility in fuel and energy costs,
asset impairment charges, fluctuations in our common stock price and
other risk factors relating to our business or industry as detailed from
time to time in SUPERVALU’s reports filed with the SEC. You should not
place undue reliance on these forward-looking statements, which speak
only as of the date of this news release. Unless legally required,
SUPERVALU undertakes no obligation to update or revise publicly any
forward-looking statements, whether as a result of new information,
future events or otherwise.
Source: SUPERVALU INC.
Jeff Swanson, 952-903-1645