MINNEAPOLIS--(BUSINESS WIRE)--Jan. 7, 2016--
SUPERVALU INC. (NYSE: SVU) today announced that it filed an initial Form
10 Registration Statement (Form 10) with the U.S. Securities and
Exchange Commission in connection with the possible spin-off of its
Save-A-Lot business into a separate, publicly traded company.
SUPERVALU announced in July 2015 that it was exploring a separation of
its Save-A-Lot business, and that as part of that process it had begun
preparations to allow for a possible spin-off of Save-A-Lot into a
stand-alone public company. With the filing of the Form 10, SUPERVALU is
continuing preparations to separate Save-A-Lot, although at this time
there can be no assurances that a separation or spin-off of Save-A-Lot
will occur, or that any other changes in the Company’s overall
operations will happen.
To review the Form 10 filing on the SEC’s web site, use this link.
About SUPERVALU INC.
SUPERVALU INC. is one of the largest
grocery wholesalers and retailers in the U.S. with annual sales of
approximately $18 billion. SUPERVALU serves customers across the United
States through a network of 3,395 stores composed of 1,854 independent
stores serviced primarily by the Company’s food distribution business;
1,342 Save-A-Lot stores, of which 901 are operated by licensee owners;
and 199 traditional retail grocery stores (store counts as of September
12, 2015). Headquartered in Minnesota, SUPERVALU has approximately
40,000 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,”
“anticipates,” “expects,” “projects,” “plans,” “intends” 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 uncertainties as to the terms, timing or structure of any
separation transaction and whether one will be consummated at all, the
impact of any separation transaction on the businesses of SUPERVALU and
the Save-A-Lot business on a standalone basis if the separation were to
be completed, whether the operational and strategic benefits of a
separation can be achieved and whether the costs and expenses of the
separation can be controlled within expectations. Other factors include
competition, ability to execute initiatives, substantial indebtedness,
labor relations issues, escalating costs of providing employee benefits,
relationships with Albertson’s LLC, New Albertson’s, Inc. and Haggen,
intrusions to and disruption of information technology systems, impact
of economic conditions, 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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160107006183/en/
Source: SUPERVALU INC.
Steve Bloomquist, 952-828-4144
Jeff Swanson, 952-903-1645