This week, SuperValu and Schnuck Markets announced plans for a large scale sale of retail stores; the former has agreed to sell 19 of its 36 Shop ’n Save locations to the latter. As part of the acquisition, Schnucks has agreed to allow SuperValu to serve as the primary supplier for nine of its 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 together,” said Mark Gross, SuperValu’s President and CEO.
The 19 stores involved in the deal—many in the St. Louis, MO-area—will be closed in order to prepare for their Schnucks-owned debut. The sale comes on the heels of SuperValu’s recent announcement—that it would be acquired by United Natural Foods (UNFI) in a deal valued at $2.9 billion.
A complete list of stores, pharmacies, and fuel centers to be sold to Schnucks under this agreement can be found here.
After this acquisition, 17 Shop ‘n Save stores will remain, however, SuperValu noted that if an additional buyer or buyers cannot be found “in the near term,” the stores will be closed later this year. SuperValu’s St. Louis Distribution Center is also expected to close later this year, as it predominantly serves Shop ‘n Save stores.
Deli Market News will keep you up to date with more as SuperValu transforms its business and integrates with UNFI.