Since being acquired by UNFI in its $2.9 billion SuperValu transaction last year, Cub Foods has been the subject of much speculation. And now, it seems, the banner has a new CEO. Mike Stigers stepped into the new position in the last few weeks, in the wake of UNFI losing some of its top executives: Anne Dament, Executive Vice President of Retail, and Chad Ferguson, President of Retail Operations.
Cub Foods has also been in the news recently due to the recent opening of its small-format store, at which Stigers greeted customers and explained the current state of Cub Foods’ potential sale.
“We’re looking at which stores are going to get remodeled next fiscal year. There’s no slowing down the growth of this brand as we look for the correct suitor in the future,” Stigers said, as reported on by The Star Tribune. “The strength of Cub as a strong regional brand is its totality. We’re 100% focused on running Cub Foods. When the timing is right, we’ll be able to move forward.”
He also explained that UNFI might run the stores indefinitely if no buyer comes forward.
Stigers comes to his new role with ample experience under his belt. He served as President of Cub Foods in 2014, before being promoted to Executive Vice President of Wholesale and Supply Chain for SuperValu. Once SuperValu was acquired by UNFI, Stigers became the Executive Vice President of Fresh.
How will Stigers’ role shape up? Will Cub Foods become a more permanent fixture in UNFI’s operations? Deli Market News will continue to report.