MINNEAPOLIS--(BUSINESS WIRE)--SUPERVALU (NYSE: SVU) today announced its plans to sell all Connecticut Shaw’s stores. The company has reached agreements with Wakefern for the sale of 11 Shaw’s stores to individual owners, and with Stop & Shop for the sale of five Shaw’s stores. These transactions are expected to close in Spring 2010. The company continues to seek buyers for its two additional stores in Connecticut.
“While these decisions are always difficult, given the impact on associates and customers, they ultimately allow us to operate more efficiently and effectively within a highly competitive retail environment,” said Pete Van Helden, SUPERVALU executive vice president of retail operations.
Shaw’s continues to operate 176 stores in five New England states.
SUPERVALU was advised by William Blair & Company, LLC relating to this transaction.
SUPERVALU INC. is one of the largest companies in the U.S. grocery channel with estimated annual sales of $41 billion. SUPERVALU serves customers across the United States through a network of approximately 4,290 stores composed of approximately 1,200 traditional and premium stores, including 850 in-store pharmacies; 1,180 hard discount Save-A-Lot stores, of which 860 are operated by licensee owners; and 1,910 independent stores serviced primarily by the company's traditional food distribution business. SUPERVALU has approximately 170,000 employees. For more information about SUPERVALU, visit www.supervalu.com.