|Supervalu to be acquired by United Natural Foods
United Natural Foods Inc. (UNFI) and Supervalu have entered into a definitive agreement under which UNFI will acquire Supervalu for $32.50 per share in cash, or about $2.9 billion, including the assumption of outstanding debt and liabilities. The news comes the same day that Supervalu announced its Q1 2019 earnings. Also, ushering in the end of an era, UNFI revealed that it plans “over time … to divest Supervalu retail assets in a thoughtful and economic manner.”
“This transaction accelerates UNFI’s ‘Build out the Store’ growth strategy by immediately enhancing our product range, equipping us to bring an attractive, comprehensive product portfolio to an expanded universe of customers,” said Steve Spinner, CEO and chairman of Providence, R.I.-based distributor. “Combining our leading position in natural and organic foods with Supervalu’s presence in fast-turning products makes us the partner of choice for a broader range of customers. Together, we can provide our ‘better for you’ products as well as other high-growth segments, improving customers’ competitive advantages in a dynamic marketplace. These benefits, plus our increased efficiency and productivity, will enable us to create value for our shareholders, enhance opportunities for our suppliers, provide a broader assortment for our customers and create new prospects for our associates over the long term.” “The combination of UNFI and Supervalu provides a substantial premium and delivers certainty of value to our stockholders, meaningful benefits to our customers, expanded opportunities for our employees, and the ability for us and our vendors to efficiently serve a varied customer base,” said Mark Gross, CEO of Minneapolis based Supervalu, who will be stepping away from the company as part of the deal.
“We have been executing an ambitious strategic transformation for over two years. We believe that this transaction is the best and natural next step for our stockholders, customers and employees. I am very proud of the unwavering commitment and focus of our employees in driving our strategic transformation and serving our customers. I am confident that, together, Supervalu and UNFI will be well positioned to succeed – and to help our customers succeed – in today’s grocery landscape.”
Retail Food Labeling-Everything You Need to Know
Now Available as DVDs, Replays & Instant Downloads!
Food labeling is a highly regulated area that is beset by increasing oversight by the Food and Drúg Administration. If your company operates in the food manufacturing or food services industries, you are at risk if you do not understand the latest developments in the FDAs regulations of your packaging and labeling efforts.
Stay ahead of all food labeling challenges in 2017 with AudioEducators Retail Food Labeling Virtual Boot Camp . This camp with Boot food safety expert Natasha Rowley-Phipps breaks down complex regulations into manageable pieces of information that you can then implement in your organization. You will gain a deeper knowledge of food labeling regulations, the resources available on government websites, and a reference presentation from our expert for your use. This event provides a helpful foundation for those who are just beginning to tackle this subject, as well as a review for those who need to refresh their knowledge. Learn More:
Our Retail Food Labeling Virtual Boot Camp is available as a DVD or an instant download
Now ✆ Call: 1-866-251-3060 and mention EFOOVBEM or email us at firstname.lastname@example.org