SUPERVALU Announces Plans to Sell 19 of Its 36 St. Louis-Based Shop ‘n Save Stores to Schnuck Markets
SUPERVALU (SVU)
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Source: Business Wire
Schnucks to also acquire related Shop ‘n Save Pharmacies and four Shop ‘n Save Fuel Centers MINNEAPOLIS &ST. LOUIS--(BUSINESS WIRE)-- SUPERVALU INC. (NYSE: SVU) today announced it has entered into a definitive agreement to sell 19 of its 36 Shop ‘n Save grocery stores, primarily located in the St. Louis, Mo. area, to Schnuck Markets, Inc. The transaction is planned to occur with a staggered close process that is currently expected to finish by late October 2018, subject to customary closing conditions. As part of the acquisition, SUPERVALU and Schnucks will also enter into an agreement for SUPERVALU to serve as the primary supplier for nine of Schnucks’ existing stores located across northern Illinois, Iowa and Wisconsin. “Since announcing plans to pursue the sale of our Shop ‘n Save banner earlier this Spring, the team has worked diligently and successfully to put this agreement
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