SuperValu to sell minority interest in WinCo
Apr 1, 2004 1:33 PM, from staff and wire reports
SuperValu Inc has signed an agreement to sell its minority ownership interest in WinCo Foods Inc, a privately held regional grocery chain that operates stores in Idaho, Oregon, Nevada, Washington, and California. Minneapolis MN-based SuperValu expects to receive after-tax proceeds of approximately $150 million on the sale. The grocery chain will use proceeds from the sale of its interest in WinCo to reduce debt.
The net impact of these items is estimated to increase SuperValu’s fiscal 2005 net earnings by about $0.40 per share.
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