Supervalu will sell most
Albertsons stores in Utah
Jul 29, 2009 9:47 AM
Supervalu has reached an agreement with Associated Food Stores for the sale of the majority of its Albertsons stores in Utah. The sale will include 36 Albertsons stores in Utah and their respective pharmacies and fuel centers, with the exception of three St George-area stores that will remain Albertsons and continue to be operated by Supervalu.
In connection with this transaction, Supervalu is also seeking a buyer for its two Albertsons stores in Orem UT and two Albertsons stores in West Jordan UT, and it will continue to operate those stores while a buyer is identified. Associated Food Stores intends to rename the 36 purchased stores and expects to interview and offer employment to most Albertsons associates.
Supervaluís Salt Lake City UT distribution center will remain part of the firm and will remain open to serve Albertsons stores in Idaho, Wyoming, and Montana. The transaction, which is subject to regulatory approval, is expected to close this autumn. Supervalu will realize approximately $150 million in after-tax net proceeds from the sale.
Founded in 1939, Albertsons was acquired by Supervalu in 2006 and employs more than 3,000 associates in Utah.
With estimated annual sales of $42 billion, Supervalu has about 2,500 retail grocery locations. Through the companyís nationwide supply chain network, it provides distribution and related logistics support services to more than 2,500 independent retailers across the nation. Supervalu has approximately 180,000 employees.
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