EDEN PRAIRIE, Minn. & LAKE SUCCESS, N.Y.--(BUSINESS WIRE)--Nov. 9, 2016--
SUPERVALU INC. (NYSE:SVU) and America’s Food Basket (AFB) today
announced that SUPERVALU has been selected by AFB as a grocery
wholesaler and supplier. The parties have entered into a long-term
agreement for SUPERVALU to supply the AFB member stores with traditional
grocery products across a range of categories including meat, deli,
bakery, grocery, fresh produce, frozen foods and dairy. SUPERVALU will
distribute AFB’s “Ideal Brands” as well as provide AFB stores with the
ability to offer SUPERVALU’s private brand products including Essential
Everyday®, Wild Harvest®, and Culinary Circle®.
Founded in 2007 and headquartered in Lake Success, New York, AFB is a
regional cooperative serving 47 neighborhood stores located primarily in
New York and parts of New England. AFB stores range in size from 5,000
to almost 20,000 square feet and deliver a diverse set of products to
meet the needs of their local communities and customers. AFB stores
operate under three primary banners: America’s Food Basket, Ideal Food
Basket and Superfi Emporium.
“America’s Food Basket is a terrific regional co-op that delivers a
great neighborhood grocery experience for its customers,” said Mike
Stigers, Executive Vice President of SUPERVALU’s Wholesale business.
“Our plans to continue to grow SUPERVALU’s wholesale business took
another step forward today with the addition of America’s Food Basket.”
SUPERVALU and AFB expect that a few of the 47 AFB member stores will
have transitioned to SUPERVALU supply before the end of December 2016
with the balance of the remaining stores likely to transition to
SUPERVALU supply during the first quarter of calendar 2017.
“America’s Food Basket is moving into our fourth year of growth while at
the same time seeking opportunities to build our business by exploring
new avenues for operational excellence,” said Dan Cabassa, CEO,
America’s Food Basket. “We’re pleased to announce this relationship with
SUPERVALU as we believe it will help us deliver a great offering for our
About America’s Food Basket
America’s Food Basket, LLC. is a cooperative which supports and unifies
independent retail stores across the Northeast United States operating
in New Jersey, New York, Connecticut, Rhode Island, and Massachusetts.
The Company leverages the size of its purchases and merchandising
operations to deliver the best cost and efficiencies for its member
stores. The stores operating under three principle banners, America’s
Food Basket, Ideal Food Basket, and Superfi Emporium sell groceries and
provide payment services at its independent member retail locations. The
company also provides a line of grocery, dairy, and fresh products under
its private label brand, Ideal Brands, which can be viewed on its
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 3,382
stores composed of 1,815 stores operated by wholesale customers serviced
primarily by the Company’s food distribution business; 1,370 Save-A-Lot
stores, of which 888 are operated by licensee owners; and 197
traditional retail grocery stores (store counts as of September 10,
2016). 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 timing of the transition of the America’s Food
Basket stores and the resulting business impacts of this new supply
agreement. 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/20161109005270/en/
Source: SUPERVALU INC.
Jeff Swanson, 952-903-1645
Dan Cabassa, 516-502-2509 ext. 101