SUPERVALU completes the acquisition of Associated Grocers of Florida for $193 million

MINNEAPOLIS, 2017-Dec-12 — /EPR Retail News/ — SUPERVALU INC. (NYSE: SVU) today (Dec. 8, 2017) announced it has completed the previously announced acquisition of Associated Grocers of Florida, Inc. in a transaction valued at approximately $193 million. Associated Grocers of Florida adds a dynamic grocery wholesaler to SUPERVALU’s growing national distribution network with annual sales of approximately $650 million in its last fiscal year as estimated under SUPERVALU’s accounting policies. This acquisition marks the second completed acquisition of 2017 for SUPERVALU as the Company continues to strategically invest in growing its wholesale business.

“The addition of Associated Grocers of Florida is another important step on our journey to becoming the wholesaler of choice for grocery retailers,” said Mark Gross, SUPERVALU’s President and Chief Executive Officer. “AG of Florida has a tremendous retailer base across central and south Florida and we’ll immediately gain a vibrant group of customers as well as an ability to expand internationally with AG’s customers in territories that include the Caribbean, and Central and South America.”

Gross continued, “I’m also thrilled that Christopher Miller, AG’s former president, will continue with us in a similar role as president of SUPERVALU Florida going forward. Chris has built a great team and we’re very excited that they’re now a part of our SUPERVALU family. Between the Unified Grocers and AG of Florida acquisitions, we’ve added substantial talent that will help us meet the rapidly changing needs of the markets we serve, including the growing specialty, organic, Latino and Hispanic markets.”

About SUPERVALU INC.
(The following information on sales, store counts and employees is as of SUPERVALU’s last fiscal quarter end and does not include AG of Florida)

SUPERVALU INC. is one of the largest grocery wholesalers and retailers in the U.S. with annual sales of approximately $16 billion. SUPERVALU serves customers across the United States through a network of 3,337 stores composed of 3,120 stores operated by wholesale customers serviced primarily by SUPERVALU’s food distribution business and 217 traditional retail grocery stores operated under five retail banners in six geographic regions (store counts as of September 9, 2017). Headquartered in Minnesota, SUPERVALU has approximately 31,000 employees.

Founded in 1945, Associated Grocers of Florida, Inc. is a wholesale grocery distributor that supplies full lines of groceries and general merchandise to independent retailers and regional chains throughout Florida, Central America, South America and Caribbean countries.

For more information about SUPERVALU visit www.supervalu.com.

Investor Contact:
Steve Bloomquist
952-828-4144
steve.j.bloomquist@supervalu.com

Media Contact:
Jeff Swanson
952-903-1645
jeffrey.s.swanson@supervalu.com

Source: SUPERVALU INC.

SUPERVALU to participate in Barclays “Eat, Sleep, Play – It’s Not All Discretionary” Conference in New York

MINNEAPOLIS, 2017-Nov-29 — /EPR Retail News/ — SUPERVALU INC. (NYSE: SVU) will participate in next week’s Barclays “Eat, Sleep, Play – It’s Not All Discretionary” Conference in New York. President and CEO Mark Gross and Executive Vice President, Chief Strategy Officer and Interim Chief Financial Officer Rob Woseth will address investors at approximately 8:00 a.m. (Eastern Time) on Wednesday, December 6, 2017.

A live webcast of this event will be available through the SUPERVALU website at http://www.supervaluinvestors.com (click on microphone icon). A replay will be archived on SUPERVALU’s website and will be available at  by clicking on “Presentations and Webcasts.”

The accompanying presentation will be posted to the SUPERVALU website (http://www.supervaluinvestors.com) at approximately 7:00 a.m. (Eastern Time) on December 6th.

About SUPERVALU INC.
SUPERVALU INC. is one of the largest grocery wholesalers and retailers in the U.S. with annual sales of approximately $16 billion. SUPERVALU serves customers across the United States through a network of 3,337 stores composed of 3,120 stores operated by wholesale customers serviced primarily by Supervalu’s food distribution business and 217 traditional retail grocery stores operated under five retail banners in six geographic regions (store counts as of September 9, 2017). Headquartered in Minnesota, SUPERVALU has approximately 31,000 employees. For more information about SUPERVALU visit www.supervalu.com.

Investor Contact:
Steve Bloomquist
952-828-4144
steve.j.bloomquist@supervalu.com

Media Contact:
Jeff Swanson
952-903-1645
jeffrey.s.swanson@supervalu.com

Source: SUPERVALU INC.

SUPERVALU promotes Anne Dament to Executive Vice President, Retail, Marketing and Private Brands

MINNEAPOLIS, 2017-Nov-15 — /EPR Retail News/ — SUPERVALU INC. (NYSE:SVU) today (Nov. 13, 2017) announced changes to its executive leadership team. Anne Dament has been promoted to Executive Vice President, Retail, Marketing and Private Brands effective immediately.

Dament joined SUPERVALU in January 2017 and has made significant contributions to SUPERVALU, including developing a strong plan and implementation strategy to improve the company’s retail division, reorganizing multiple retail merchandise groups, consolidating wholesale and retail marketing efforts and driving new product introductions. With respect to new products, she has brought new ideas and direction to SUPERVALU’s portfolio, including launching over 350 new private label items this year, and developed other innovative solutions, such as SUPERVALU’s recent launch of its national Quick & Easy meal solution program.

“Anne is a smart, creative, and dynamic leader and has made a significant impact on our team in a short time frame,” said Mark Gross, SUPERVALU’s President and Chief Executive Officer. “Over the last year, she’s set a positive vision for our retail initiatives, particularly here in Minnesota, introduced exciting new product innovation to wholesale and retail, and brought greater collaboration between our retail and wholesale teams.”

SUPERVALU also announced today that Karla Robertson, Executive Vice President, General Counsel and Corporate Secretary, will resign from her position effective November 17, 2017 to join Pentair plc.

“Karla is a highly respected leader who has been a tremendous asset to this company and to me personally,” said Gross. “She has been a great member of the executive team and contributor toward our growth and transformation. Not only has she provided excellent legal advice but she has also served an invaluable role as business partner and advisor to all of us. I thank Karla for her service to our company over the past eight years and wish her all the best.”

Stuart McFarland has been appointed Senior Vice President, General Counsel and Corporate Secretary effective November 18, 2017. McFarland has worked at SUPERVALU since 2010 in positions of increasing responsibility and currently serves as Vice President, Associate General Counsel and Assistant Corporate Secretary focusing on corporate transactions, mergers and acquisitions, securities and corporate governance. Prior to joining SUPERVALU, McFarland was an associate at the law firm of Gibson, Dunn & Crutcher LLP in Los Angeles. McFarland earned his bachelor of arts degree in Economics from the University of Florida and his law degree from the University of Minnesota Law School, where he graduated summa cum laude.

Gross continued, “Looking forward, we are very excited to have Stuart as our General Counsel as we continue our transformation and focus on organic and new growth opportunities. Stuart is an extremely intelligent, insightful, and hard-working leader who will hit the ground running with his knowledge of SUPERVALU and our industry.”

About SUPERVALU INC.
SUPERVALU INC. is one of the largest grocery wholesalers and retailers in the U.S. with annual sales of approximately $16 billion. SUPERVALU serves customers across the United States through a network of 3,337 stores composed of 3,120 wholesale primary stores operated by customers serviced by SUPERVALU’s food distribution business and 217 traditional retail grocery stores operated under five retail banners in six geographic regions (store counts as of September 9, 2017). Headquartered in Minnesota, SUPERVALU has approximately 31,000 employees. For more information about SUPERVALU visit www.supervalu.com.

Contact:
For Investors:
Steve Bloomquist
952-828-4144
steve.j.bloomquist@supervalu.com

For Media:
Jeff Swanson
952-903-1645
jeffrey.s.swanson@supervalu.com

Source: SUPERVALU INC.

SUPERVALU acquisition of Unified Grocers now complete

MINNEAPOLIS, 2017-Jun-26 — /EPR Retail News/ — SUPERVALU INC. (NYSE: SVU) today (Jun. 23, 2017) announced it has completed the previously announced acquisition of Unified Grocers, Inc. in a transaction valued at $390 million, comprised of $114 million in cash to Unified Grocers’ shareholders for 100 percent of the outstanding stock of Unified Grocers plus the assumption and pay-off at closing of Unified Grocers’ net debt of approximately $276 million.

“The completion of this transaction is a significant step forward for SUPERVALU and the growth of our wholesale business,” said Mark Gross, SUPERVALU’s President and Chief Executive Officer. “Our teams are fully engaged in the important work of integrating these two great organizations with a continued focus on delivering for our customers and stockholders. We’re excited about working with the many talented associates to supply and serve our expanded and highly diverse customer base.”

About SUPERVALU INC.
(The following information on sales, store counts and employees is as of SUPERVALU’s last fiscal year end and does not include Unified Grocers)

SUPERVALU INC. is one of the largest grocery wholesalers and retailers in the U.S. with annual sales of approximately $12 billion in fiscal 2017. SUPERVALU serves customers across the United States through a network of 2,363 stores including 1,902 stores operated by wholesale customers serviced primarily by the Company’s food distribution business and 217 traditional retail grocery stores operated under five retail banners in six geographic regions (store counts as of February 25, 2017). Headquartered in Minnesota, SUPERVALU has approximately 29,000 employees.

Founded in 1922, Unified Grocers is a wholesale grocery distributor that supplies independent retailers throughout the western United States. Unified and its subsidiaries offer independent retailers all the resources they need to compete in the supermarket industry.

For more information about SUPERVALU visit www.supervalu.com.

Investor Contact:
Steve Bloomquist
952-828-4144
steve.j.bloomquist@supervalu.com

Media Contact:
Jeff Swanson
952-903-1645
jeffrey.s.swanson@supervalu.com

Source: SUPERVALU INC.

SUPERVALU President and CEO Mark Gross to address investors at RBC Capital Markets Consumer and Retail Conference

MINNEAPOLIS, 2017-May-24 — /EPR Retail News/ — SUPERVALU INC. (NYSE: SVU) will participate in next week’s RBC Capital Markets Consumer and Retail Conference in Boston. President and CEO Mark Gross will address investors at approximately 9:20 a.m. (Eastern Time) on Wednesday, May 31, 2017.

A live webcast of this event will be available through the SUPERVALU website at http://www.supervaluinvestors.com (click on microphone icon). A replay will be archived on SUPERVALU’s website by going to the “Investors” link and clicking on “Presentations and Webcasts.”

About SUPERVALU INC.
SUPERVALU INC. is one of the largest grocery wholesalers and retailers in the U.S. with annual sales of approximately $12 billion. SUPERVALU serves customers across the United States through a network of 2,363 stores composed of 1,902 stores operated by wholesale customers serviced primarily by the Company’s food distribution business and 217 traditional retail grocery stores operated under five retail banners in six geographic regions (store counts as of February 25, 2017). Headquartered in Minnesota, SUPERVALU has approximately 29,000 employees. For more information about SUPERVALU visit www.supervalu.com.

Investor Contact:
Steve Bloomquist
952-828-4144
steve.j.bloomquist@supervalu.com

Media Contact:
Jeff Swanson
952-903-1645
jeffrey.s.swanson@supervalu.com

Source: SUPERVALU INC.

Supervalu Finishes Fiscal 2017 With Momentum

  • Fourth quarter net earnings from continuing operations of $6 million; adjusted EBITDA of $124 million
  • Fourth quarter net earnings per share from continuing operations of $0.02; adjusted earnings per share of $0.13
  • Completion of Save-A-Lot sale in fourth quarter strengthened balance sheet
  • Agreement to acquire Unified Grocers announced in April 2017
  • Total outstanding debt and pension obligation reduced by $1.04 billion and $248 million, respectively, in fiscal 2017

MINNEAPOLIS, 2017-Apr-29 — /EPR Retail News/ — SUPERVALU INC. (NYSE: SVU) today (Apr. 25, 2017) reported fourth quarter fiscal 2017 consolidated net sales of $2.91 billion and net earnings from continuing operations of $6 million, or $0.02 per diluted share, which included $32 million in after-tax charges and costs related to an asset impairment charge, unamortized financing cost charges and a pension settlement charge. When adjusted for these items, fourth quarter fiscal 2017 net earnings from continuing operations were $38 million, or $0.13 per diluted share.

Net earnings from continuing operations for last year’s fourth quarter were $30 million, or $0.10 per diluted share, which included $9 million in after-tax charges and costs related to debt refinancing charges and store closure charges and costs. When adjusted for these items, fourth quarter fiscal 2016 net earnings from continuing operations were $39 million, or $0.14 per diluted share.

In the fourth quarter of fiscal 2017, SUPERVALU completed the sale of its Save-A-Lot business. The results of operations, financial position and cash flows of the Save-A-Lot business are presented as discontinued operations for all periods, and SUPERVALU’s results from continuing operations no longer include the sales, operating earnings, net earnings, and adjusted EBITDA from Save-A-Lot. Certain costs previously charged to Save-A-Lot are included in SUPERVALU’s results from continuing operations and now relate to performing under the services agreement entered into with Save-A-Lot. For comparability purposes, management includes a pro forma adjustment to its adjusted EBITDA that reflects the fees SUPERVALU expects to recognize under the services agreement for the applicable periods prior to the sale. [See tables 1-6 for a reconciliation of GAAP and non-GAAP (adjusted) results appearing in this release.]

“We finished fiscal 2017 with momentum in our Wholesale business and an improved balance sheet resulting from the sale of Save-A-Lot,” said President and CEO Mark Gross. “I’m very excited about our agreement to acquire Unified Grocers as it brings together two great companies to create one of the nation’s leading grocery wholesale organizations. At the same time, we are working to fundamentally improve the shopping experience in our retail stores and with new leadership and renewed passion we are focused on changing our operating results. I remain optimistic for growth and believe strongly in the path our team is pursuing to achieve it.”

Fourth Quarter Results – Continuing Operations

Fourth quarter net sales were $2.91 billion compared to $2.89 billion last year, an increase of $16 million or 0.6 percent. Total net sales within the Wholesale segment increased 3.0 percent. Retail identical store sales were negative 5.8 percent. Fees earned under services agreements in the fourth quarter were $42 million compared to $44 million last year.

Gross profit for the fourth quarter was $435 million, or 15.0 percent of net sales. Last year’s fourth quarter gross profit was $431 million, or 14.9 percent of net sales. The gross profit rate increase compared to last year is primarily driven by higher gross margins and vendor allowances as well as lower inventory shrink costs.

Selling and administrative expenses in the fourth quarter were $400 million and included a $41 million asset impairment charge and a $1 million pension settlement charge. When adjusted for these items, selling and administrative expenses were $358 million, or 12.3 percent of net sales. Selling and administrative expenses in last year’s fourth quarter were $356 million and included $6 million of store closure charges and costs. When adjusted for these items, last year’s selling and administrative expenses were $350 million, or 12.1 percent of net sales. The increase in the adjusted selling and administrative expenses rate compared to last year was primarily driven by higher employee costs, partially offset by lower pension expense.

Net interest expense for the fourth quarter was $40 million which included $12 million in unamortized financing cost charges. When adjusted for this item, net interest expense was $28 million. Last year’s fourth quarter net interest expense was $47 million which included $10 million in debt refinancing costs and unamortized financing cost charges. When adjusted for these items, last year’s fourth quarter interest expense was $37 million. The decrease in adjusted net interest expense was primarily driven by lower outstanding debt balances associated with the use of proceeds from the sale of Save-A-Lot.

Income tax benefit was $9 million for the fourth quarter compared to $0 million in last year’s fourth quarter. The fourth quarter of both years included discrete items that impacted the effective tax rate.

Wholesale

Fourth quarter Wholesale net sales were $1.79 billion, compared to $1.74 billion last year, an increase of 3.0 percent. The net sales increase is primarily due to sales to new customers and increased sales from new stores operated by existing customers, partially offset by stores from the prior year no longer being supplied by the Company.

Wholesale operating earnings in the fourth quarter were $64 million, or 3.6 percent of net sales. Last year’s Wholesale operating earnings in the fourth quarter were $50 million, or 2.9 percent of net sales. The increase in Wholesale operating earnings was driven by higher gross margins and vendor allowances.

Retail

Fourth quarter Retail net sales were $1.07 billion, compared to $1.11 billion last year, a decrease of 3.2 percent. The net sales decrease reflects negative identical store sales of 5.8 percent, partially offset by sales from acquired and new stores.

Retail operating loss in the fourth quarter was $27 million and included a $41 million asset impairment charge. When adjusted for this item, Retail operating earnings were $14 million, or 1.3 percent of net sales. Last year’s Retail operating earnings in the fourth quarter were $30 million, or 2.7 percent of net sales. The decrease in Retail operating earnings, as adjusted, was driven by the impact of lower sales and higher employee costs partially due to acquired and new stores.

Corporate

Fourth quarter fees earned under services agreements were $42 million compared to $44 million last year.

Net Corporate operating loss in the fourth quarter was $2 million and included $1 million of costs related to a pension settlement charge. When adjusted for this item, net Corporate operating loss was $1 million. Last year’s fourth quarter net Corporate operating loss was $5 million and included $6 million in store closure charges and costs. When adjusted for this item, last year’s net Corporate operating income was $1 million. The decrease in net Corporate operating earnings, as adjusted, was primarily driven by higher employee costs, partially offset by lower pension expense.

Discontinued Operations

Fiscal 2017 included a $577 million after-tax gain on the sale of Save-A-Lot, recorded in Income from discontinued operations, net of tax.

Cash Flows – Continuing Operations

Fiscal 2017 net cash flows provided by operating activities of continuing operations were $308 million, compared to $245 million last year, primarily reflecting lower levels of cash utilized toward operating assets and liabilities. Fiscal 2017 net cash flows used in investing activities of continuing operations were $198 million, compared to $187 million last year, primarily reflecting an increase in capital spending. Fiscal 2017 net cash flows used in financing activities of continuing operations were $1,106 million, compared to $192 million last year, primarily reflecting the required debt prepayments as part of the Save-A-Lot sale.

Conference Call ­­­

A conference call to review the fourth quarter and full year fiscal 2017 results is scheduled for 9:00 a.m. central time today. The call will be webcast live at www.supervaluinvestors.com (click on microphone icon). A replay of the call will be archived at www.supervaluinvestors.com. To access the website replay, go to the “Investors” link and click on “Presentations and Webcasts.”

About SUPERVALU INC.

SUPERVALU INC. is one of the largest grocery wholesalers and retailers in the U.S. with annual sales of approximately $12 billion. SUPERVALU serves customers across the United States through a network of 2,363 stores including 1,902 stores operated by wholesale customers serviced primarily by the Company’s food distribution business and 217 traditional retail grocery stores operated under five retail banners in six geographic regions (store counts as of February 25, 2017). Headquartered in Minnesota, SUPERVALU has approximately 29,000 employees. For more information about SUPERVALU visit www.supervalu.com.

CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. Except for the historical and factual information, the matters set forth in this news release and related conference call, particularly those pertaining to SUPERVALU’s expectations, guidance, or future operating results, and other statements identified by words such as “estimates,” “expects,” “projects,” “plans,” “intends,” “outlook” and similar expressions are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including competition, ability to execute operations and initiatives, ability to realize benefits from acquisitions and dispositions, ability to grow sales, reliance on the wholesale customers’ performance, failure to perform services, wind down of the Company’s relationships with Albertson’s LLC and New Albertson’s, Inc., ability to maintain or increase margins or identical store sales, restrictive covenants from indebtedness, labor relations issues, escalating costs of providing employee benefits, intrusions to and disruption of information technology systems, changes in military business, adequacy of insurance, asset impairment charges, fluctuations in our common stock price, impact of economic conditions, commodity pricing, severe weather, disruption to supply chain and distribution network, governmental regulation, food and drug safety issues, legal proceedings, pharmacy reimbursement and health care financing, intellectual property protection, and other risk factors relating to our business or industry as detailed from time to time in SUPERVALU’s reports filed with the SEC. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Unless legally required, SUPERVALU undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Investor Contact:
Steve Bloomquist
952-828-4144
steve.j.bloomquist@supervalu.com

Media Contact:
Jeff Swanson
952-903-1645
jeffrey.s.swanson@supervalu.com

Source: SUPERVALU INC.

SUPERVALU Foundation donates $1 million to nonprofits for hunger and food-related relief efforts across the country

EDEN PRAIRIE, Minn., 2017-Feb-11 — /EPR Retail News/ — SUPERVALU INC. (NYSE: SVU) today (Feb. 9, 2017) announced that the SUPERVALU Foundation will donate $1 million to 34 nonprofits that provide hunger and food-related relief to those in need in local communities across the country.

The $1 million in donations will benefit local communities in 17 states and the District of Columbia. Recipient organizations include local food bank affiliates of Feeding America, local members of Meals on Wheels America, local urban garden programs and meal programs at local emergency shelters, among others.

“Too many people in the United States today experience food insecurity,” said SUPERVALU President and CEO Mark Gross. “Today’s donations provide needed funding to help feed our communities, which is part of our company’s mission, and is an important contribution to the efforts to address hunger relief.”

The SUPERVALU Foundation was established in 1993 to effect positive change in communities where SUPERVALU operates and serves. Hunger relief and nutrition programming are key focuses of the Foundation. In addition to today’s $1 million in cash donations from the Foundation, SUPERVALU has continued its giving to local and regional nonprofits, including Feeding America affiliates in the form of food to create meals for families across the country.

According to the U.S. Department of Agriculture, nearly 13 percent of American households were estimated to be food insecure in 2015, meaning they lacked access to enough food for an active, healthy life for all household members. An estimated one in six American children are food insecure, and seniors represent the fastest growing food-insecure population.

Donation recipients
Following is a list of the organizations, their grant amounts and their focus by state:

  • Minnesota: $260,000, representing CUB employees and employees who work in SUPERVALU’s wholesale distribution business and corporate offices
    • The Aliveness Project ($50,000): Provides meals to Twin Cities’ residents suffering from HIV/AIDS.
    • The Bridge for Youth ($50,000): Supports meals for local youth temporarily housed at the Bridge for Youth emergency shelter.
    • Urban Roots ($50,000): Provides urban farming and nutritional cooking classes for youth on St. Paul’s East Side.
    • Youth Farm ($50,000): Provides urban farming for youth in Twin Cities’ neighborhoods.
    • Matter ($40,000): Distributes meals to families in Twin Cities’ communities experiencing food insecurity.
    • Cornerstone ($20,000): Supports meals for individuals and families temporarily housed at the Cornerstone Emergency Shelter for victims of domestic violence in the Twin Cities.
  • Virginia: $130,000, representing Farm Fresh and SUPERVALU’s wholesale distribution business
    • Virginia Peninsula Foodbank ($70,000): Supports the food bank’s Mobile Food Pantry and Kids’ Café in the Hampton Roads area.
    • Feed More Community Kitchen ($40,000): Provides meals for Meals on Wheels, summer children’s feeding programs, adult day care centers and Kids’ Café in the Richmond area.
    • Health Brigade ($20,000): Helps individuals with chronic diseases gain access to nutritious foods through the organization’s “food pharmacy” for low-income patients in the Richmond area.
  • Missouri: $110,000, representing Shop ‘n Save and SUPERVALU’s wholesale distribution business
    • St. Louis Crisis Nursery ($70,000): Provides emergency services, meals and short-term care for families in need.
    • Nurses for Newborns ($40,000): Provides at-risk families with services and resources to prevent infant mortality.
  • North Dakota: $80,000, representing Hornbacher’s and SUPERVALU’s wholesale distribution business
    • Great Plains Food Bank ($50,000): Supports the food bank’s backpack program for children facing summer food insecurity in Fargo and Grand Forks.
    • Emergency Food Pantry ($15,000): Provides food and grocery products to people in need in Cass and Clay counties.
    • Bismarck Emergency Food Pantry ($15,000): Division of the Great Plains Food Bank of North Dakota, providing food to those in need in the Bismarck area.
  • Pennsylvania: $80,000, representing SUPERVALU’s wholesale distribution business
    • Grow Pittsburgh ($40,000): Supports the organization’s community gardens that help provide fresh fruits and vegetables to local families.
    • Meals on Wheels Lancaster ($40,000): Provides daily meals to seniors and homebound individuals in the Lancasterarea.
  • Washington, D.C.: $70,000, representing SHOPPERS Food & Pharmacy
    • Food & Friends ($70,000): Delivers free meals to area residents suffering from life-threatening illnesses.
  • Illinois: $55,000, representing SUPERVALU’s wholesale distribution business and corporate shared services group
    • Illinois Valley Food Pantry ($20,000): Local affiliate of Feeding America food bank.
    • Salt & Light ($20,000): Local Champaign food co-op where people without resources can “earn” food dollars by volunteering on site.
    • Leyden Family Service Food Pantry ($15,000): Provides emergency groceries for families in distress in the Franklin Park area.
  • Colorado: $55,000, representing SUPERVALU’s wholesale distribution business and national call center
    • Silver Key Meals on Wheels ($20,000): Provides home-delivered meals to seniors in the Colorado Springs area.
    • Project Angel Heart ($20,000): Delivers free meals to Denver area residents suffering from life-threatening illnesses.
    • Denver Rescue Mission ($15,000): Provides meals, shelter and emergency services for Denver’s homeless men, women and children.
  • Wisconsin: $35,000, representing SUPERVALU’s wholesale distribution business
    • Paul’s Pantry ($20,000): Food bank serving those in need in Green Bay and Brown County.
    • Women & Children’s Horizons ($15,000): Provides meals and emergency shelter and services for abused women and their children in the Kenosha area.
  • Indiana: $20,000, representing SUPERVALU’s wholesale distribution business
    • Community Harvest Food Bank of Northeast Indiana ($20,000): Local affiliate of Feeding America.
  • Other communities receiving donations representing SUPERVALU’s corporate and wholesale distribution business include:
      • Boise, Idaho: $20,000 to the Idaho Food Bank, the local affiliate of Feeding America.
      • Tacoma, Wash.: $20,000 to Food Lifeline, a food rescue and hunger relief organization for 17 western Washingtoncounties.
      • Billings, Mont.: $15,000 to the Tumbleweed Runaway Program, which provides meals and support services for area youth living on the streets.
      • Anniston, Ala.: $15,000 to the Boys & Girls Clubs of East Central Alabama, to help fund healthy, after-school snacks at the organization’s drop-in center.
      • Quincy, Fla.: $15,000 to America’s Second Harvest of the Big Bend, the local Feeding America affiliate.
      • Lithia Springs, Ga.: $15,000 to Lifeline Mission, which addresses hunger issues in the area.
      • Phoenix, Ari.: $15,000 to St. Mary’s Food Bank Alliance, a local food bank.
      • Indianola, Miss.: $15,000 to Delta Health Alliance, supporting nutrition initiatives and fresh food access in the area.

    About SUPERVALU INC.
    SUPERVALU INC. is one of the largest grocery wholesalers and retailers in the U.S. with annual sales of approximately $13 billion. SUPERVALU serves customers across the United States through a network of 2,067 stores, composed of 1,850 stores operated by wholesale customers serviced primarily by the Company’s food distribution business, 195 traditional retail grocery stores operated under five retail banners, and 22 stores operated under the Shop ‘N Save name in Maryland, Pennsylvania, Virginia, and West Virginia (store counts as of December 3, 2016). Headquartered in Minnesota, SUPERVALU has approximately 30,000 employees. For more information about SUPERVALU, visit www.supervalu.com.

    Contact:
    Mike Wilken
    952-828-4558
    michael.c.wilken@supervalu.com

    Source: SUPERVALU

SUPERVALU INC. announces the appointment of Anne Dament as SVP of Retail, Merchandising and Marketing

SUPERVALU INC. announces the appointment of Anne Dament as SVP of Retail, Merchandising and Marketing

 

MINNEAPOLIS, 2017-Jan-19 — /EPR Retail News/ — SUPERVALU INC. (NYSE:SVU) today (Jan. 18, 2017) announced that Anne Dament has been named Senior Vice President of Retail, Merchandising and Marketing effective immediately. In this role, Dament will lead the Company’s retail banner operations, oversee the retail merchandising and marketing functions, and report to Mark Gross, SUPERVALU’s President and Chief Executive Officer.

Dament, a 25-year retail veteran who began her career at SUPERVALU, most recently served as Senior Vice President of Merchandising for Target Corporation where she oversaw food merchandising for its grocery business, including perishables, non-perishables, food service and private label brands.

“I’m thrilled that Anne is joining our leadership team,” said Mark Gross. “As we focus on improving our retail store performance, Anne’s experience across varied retail and merchandising disciplines should prove extremely beneficial. Anne is a dynamic, collaborative leader with great experience building and leading high performing teams through transformation and change.”

“Returning to SUPERVALU provides a great opportunity to collaborate with grocery veterans I’ve respected throughout my career. Together, I’m looking forward to bringing a renewed energy to our retail banners,” said Dament.

Prior to joining Target, Dament spent seven years in senior level positions at PetSmart, including roles as Vice President of Merchandising Solutions and Vice President of Services. Dament’s retail career also includes 10 years in roles of increasing responsibility for Safeway where she held numerous category director positions, as well as the positions of Vice President, Business Unit General Manager, Homecare and General Merchandise; Group Vice President, Safeway.com; and Group Vice President, Perishable Strategy.

A native Minnesotan, Dament holds a marketing degree from St. Thomas University in St. Paul, Minn.

About SUPERVALU INC.

SUPERVALU INC. is one of the largest grocery wholesalers and retailers in the U.S. with annual sales of approximately $13 billion. SUPERVALU serves customers across the United States through a network of 2,067 stores composed of 1,850 stores operated by wholesale customers serviced primarily by the Company’s food distribution business, 195 traditional retail grocery stores operated under five retail banners, and 22 stores operated under the Shop ‘N Save name in Maryland, Pennsylvania, Virginia, and West Virginia (store counts as of December 3, 2016). Headquartered in Minnesota, SUPERVALU has approximately 30,000 employees. For more information about SUPERVALU visit www.supervalu.com.

INVESTOR CONTACT:
Steve Bloomquist
952-828-4144
steve.j.bloomquist@supervalu.com

MEDIA CONTACT:
Jeff Swanson
952-903-1645
jeffrey.s.swanson@supervalu.com

Source: SUPERVALU INC.

SUPERVALU finalized the sale of its Save-A-Lot business to Onex Corporation for $1.365 billion in cash

EDEN PRAIRIE, Minn., 2016-Dec-07 — /EPR Retail News/ — SUPERVALU INC. (NYSE: SVU) today (Dec. 5, 2016) announced it has finalized the sale of its Save-A-Lot business to an affiliate of Onex Corporation (TSX: ONEX) for $1.365 billion in cash, subject to customary closing adjustments. With the sale of Save-A-Lot, SUPERVALU is now a more focused company. In connection with the closing of the sale, SUPERVALU and Save-A-Lot have entered into a five-year professional services agreement pursuant to which SUPERVALU will continue providing certain back office services to Save-A-Lot.

“With the successful completion of the Save-A-Lot sale, we are well positioned for the future with a stronger balance sheet, the opportunity to more strategically invest in our business, and the ability to more keenly focus on our core business as a leading grocery wholesaler,” said SUPERVALU President and CEO, Mark Gross. “We also look forward to continuing our relationship with Save-A-Lot as one of our important professional services customers.”

SUPERVALU also confirmed today that it has used $750 million of the net proceeds from the sale to prepay that portion of its outstanding term loan balance. The Company intends to use the remaining net sale proceeds to further reduce debt and improve its capital structure, contribute to its pension plan, as well as to fund corporate and growth initiatives.

Advisors

Barclays Capital Inc. and Greenhill & Co., LLC acted as financial advisors to SUPERVALU, and Wachtell, Lipton, Rosen & Katz is serving as its legal advisor.

About SUPERVALU INC.

Following today’s closing SUPERVALU is now organized into two primary business segments, Wholesale and Retail. SUPERVALU INC. is one of the largest grocery wholesalers and retailers in the U.S. with annual sales of approximately $13 billion. SUPERVALUserves customers across the United States through a network of 2,012 stores composed of 1,815 stores operated by wholesale customers serviced primarily by the Company’s food distribution business and 197 traditional retail grocery stores operated under five retail banners (store counts as of September 10, 2016). In addition, the Company operates 22 stores under the Shop ‘N Save name in Maryland, Pennsylvania, Virginia and West Virginia. Headquartered in Minnesota, SUPERVALU has approximately 30,000 employees. For more information about SUPERVALU visit www.supervalu.com.

CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995.

Except for the historical and factual information contained herein, the matters set forth in this communication, particularly those pertaining to SUPERVALU’S expectations, guidance, or future operating results, and other statements identified by words such as “estimates,” “expects,” “projects,” “plans,” “intends,” and similar expressions are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including our ability to recognize benefits from the sale of Save-A-Lot, our ongoing relationship with Save-A-Lot, changes in the planned use of proceeds from the transaction and other risk factors relating to our business or industry as detailed from time to time in SUPERVALU’s reports filed with the SEC. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Unless legally required, SUPERVALU undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

SUPERVALU Investor Contact:
Steve Bloomquist
952-828-4144
steve.j.bloomquist@supervalu.com

SUPERVALU Media Contact:
Jeff Swanson
952-903-1645
jeffrey.s.swanson@supervalu.com

Source: SUPERVALU INC.

SUPERVALU to sell Save-A-Lot business to Onex Corporation for $1.365 billion in cash

MINNEAPOLIS, 2016-Oct-19 — /EPR Retail News/ — SUPERVALU INC. (NYSE:SVU) today (Oct. 17, 2016) announced that it has entered into a definitive agreement whereby an affiliate of Onex Corporation (TSX:OCX) will acquire SUPERVALU’s Save-A-Lot business for$1.365 billion in cash, subject to customary closing adjustments. In connection with the sale, SUPERVALU and Save-A-Lot will enter into a five-year professional services agreement. The sale of Save-A-Lot is expected to be completed by January 31, 2017, subject to regulatory approvals and other customary closing conditions.

“Today’s announcement is the result of a thorough process to maximize the value of the Save-A-Lot business and best position SUPERVALU for future success,” said SUPERVALU Non-Executive Chairman of the Board, Jerry Storch. “SUPERVALU is successfully executing on its long term strategic vision and positioning the Company for continued growth and value creation. We are confident that this transaction will create exciting opportunities for both SUPERVALU and Save-A-Lot.”

“The sale of Save-A-Lot is another important step in SUPERVALU’s transformation. It provides us with a stronger balance sheet that will allow us to further build on our core strengths and growth opportunities,” said SUPERVALU President and CEO, Mark Gross. “It has been a pleasure to work with the Save-A-Lot team, and, once this transaction is completed, I look forward to continuing to work with them as one of our largest professional services customers.”

Under the terms of the professional services agreement, SUPERVALU will provide Save-A-Lot with certain services and support functions for its day-to-day operations, including cloud services, merchandising technology, payroll, finance, and other technology and hosting services.

SUPERVALU expects to use the net proceeds from the sale to prepay at least $750 million against its outstanding term loan balance. The Company intends to use the remaining net sale proceeds to further reduce debt and improve its capital structure, as well as to fund corporate and growth initiatives.

Advisors

Barclays Capital Inc. and Greenhill & Co., LLC acted as financial advisors to SUPERVALU, and Wachtell, Lipton, Rosen & Katz is serving as its legal advisor.

Conference Call

As previously announced, SUPERVALU will hold its fiscal 2017 second quarter conference call on Wednesday, October 19, 2016 at 9:00 a.m. Central Time, at which time SUPERVALU will also discuss the sale of Save-A-Lot in more detail. The call will be webcast live at www.supervaluinvestors.com (click on microphone icon).

About SUPERVALU

SUPERVALU INC. is one of the largest grocery wholesalers and retailers in the U.S. with annual sales of approximately $18 billion. SUPERVALU serves customers across the United States through a network of 3,342 stores composed of 1,773 stores operated by wholesale customers serviced primarily by the Company’s food distribution business; 1,368 Save-A-Lot stores, of which 896 are operated by licensee owners; and 201 traditional retail grocery stores (store counts as of June 18, 2016). Headquartered in Minnesota, SUPERVALU has approximately 40,000 employees. For more information about SUPERVALU visit www.supervalu.com.

About Save-A-Lot

As one of the largest hard-discount grocery retailers in the United States, Save-A-Lot owns and operates 472 corporate stores, and services and supplies another 896 licensee-owned stores across the country (store counts as of June 18, 2016). With more than 1,300 stores in urban, suburban, and rural areas, Save-A-Lot reaches more than 5 million shoppers each week. Store sizes vary, but in general range in size between approximately 15,000-20,000 square feet. The stores provide a limited selection of national and exclusive store brand products with a focus on its fresh offerings including USDA-inspected beef, pork and poultry, and farm-fresh fruits and vegetables.

FORWARD-LOOKING STATEMENTS

Except for the historical and factual information contained herein, the matters set forth in this communication, particularly those pertaining to SUPERVALU’S expectations, guidance, or future operating results, and other statements identified by words such as “estimates,” “expects,” “projects,” “plans,” “intends,” and similar expressions are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the possibility that regulatory and other approvals and conditions to the transaction are not received or satisfied on a timely basis or at all; the possibility that modifications to the terms of the transaction may be required in order to obtain or satisfy such approvals or conditions; the possibility that Supervalu may not fully realize the projected benefits of the transaction; changes in the planned use of proceeds from the transaction; changes in the anticipated timing for closing the transaction; business disruption during the pendency of or following the transaction; diversion of management time on transaction-related issues; and the reaction of customers and other parties to the transaction and other risk factors relating to our business or industry as detailed from time to time in SUPERVALU’s reports filed with the SEC. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Unless legally required, SUPERVALU undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Investor Contact:
Steve Bloomquist
952-828-4144
steve.j.bloomquist@supervalu.com

Media Contact:
Jeff Swanson
952-903-1645
jeffrey.s.swanson@supervalu.com

Source: SUPERVALU INC.

SUPERVALU INC. lowers its outlook for full-year adjusted EBITDA

MINNEAPOLIS, 2016-Sep-09 — /EPR Retail News/ — SUPERVALU INC. (NYSE:SVU) today (Sep. 8, 2016) announced that it is lowering its outlook for full-year adjusted EBITDA(1). Although recently announced new business in its Wholesale segment is expected to begin to positively contribute to results later this fiscal year, second quarter business performance in its Retail and Save-A-Lot segments has been softer than previously anticipated. Full year adjusted EBITDA(1) is now expected to be approximately 5.0% lower than last year.

Commenting on the outlook for fiscal 2017, President and CEO Mark Gross said, “Although we are seeing softness in portions of our business, I am excited and encouraged by the recent announcements pertaining to new customers for our core Wholesale segment and the opportunities that exist to further grow that business. In addition to the already announced two new large customers, we have recaptured some previously lost business from two other customers. We look forward to adding the volume from these new customers and do not expect any meaningful customer losses for the remainder of this fiscal year.”

The second quarter performance of the Company’s Retail segment has been impacted to a greater than anticipated degree by competitive openings and a challenging sales and operating environment for its stores. The second quarter performance of the Company’s Save-A-Lot segment has been impacted by deeper levels of deflation as well as lower levels of SNAP (supplemental nutrition assistance program) benefits compared to the first quarter. These factors affecting the Retail and Save-A-Lot segments are expected to impact the second half of the fiscal year as well. In addition, the second quarter performance at Save-A-Lot has been impacted by an aggressive rollout of store resets which is expected to benefit results at Save-A-Lot later in the year. The Company now expects the second quarter identical store sales percentage for its Retail stores and for Save-A-Lot’s store network will be lower than the first quarter identical store sales percentage. The Company’s second quarter ends September 10.

As previously announced, the Company will participate in the Goldman Sachs Global Retailing Conference in New York on Thursday, September 8, 2016 at approximately 11:20 a.m. (Eastern Time) and expects to address the Company’s outlook in more detail at that time. A live webcast of this event will be available through the SUPERVALU website at http://www.supervaluinvestors.com (click on microphone icon). A replay will be archived on SUPERVALU’s website by going to the “Investors” link and clicking on “Presentations and Webcasts.”

(1) The Company defines Adjusted EBITDA as Net earnings (loss) from continuing operations, plus Interest expense, net and Income tax provision (benefit), less Net earnings attributable to non-controlling interests calculated in accordance with GAAP, plus non-GAAP adjustments for Depreciation and amortization, LIFO charge (credit), certain employee-related costs and pension-related charges (including severance costs, pension settlement charges, multiemployer pension withdrawal charges, accelerated stock-based compensation charges and other items), certain non-cash asset impairment and other charges (including asset write-offs, store closures and market exits), certain gains and losses on the sale of property, goodwill and intangible asset impairment charges, costs related to the separation of businesses, legal settlement charges and gains, contract breakage costs and certain other non-cash charges or items as determined by management.

These items are omitted either because they are non-cash items or are items that are not considered in our supplemental assessment of our on-going business performance. Certain of these adjustments are considered in similar supplemental analyses by other companies, such as Depreciation and amortization, LIFO charge (credit) and certain other adjustments. Adjusted EBITDA is less disposed to variances in actual performance resulting from depreciation, amortization and other non-cash charges and credits, and more reflective of other factors that affect the Company’s underlying operating performance. There are significant limitations to using Adjusted EBITDA as a financial measure including, but not limited to, it not reflecting cash expenditures for capital assets or contractual commitments, changes in working capital, income taxes and debt service expenses that are recurring in the Company’s results of operations.

The adjustments for the Company’s first quarter fiscal 2017 include: net earnings attributable to non-controlling interests, $(1) million; income tax provision, $27 million; interest expense, net, $60 million; depreciation and amortization, $86 million; LIFO charge, $2 million; costs related to the potential separation of Save-A-Lot, $3 million; sales and use tax refund, $(2) million. The adjustment items occurring in the first quarter will continue for the balance of the fiscal year, with the exception of the sales and use tax refund. Additional non-cash or other adjustments not related to our on-going business performance may arise during the remainder of fiscal 2017. Adjustments for the Company’s fiscal 2017 second quarter are anticipated to include the following, a customer contract settlement gain, severance, impairment and employee benefit plan charges. For the second half of the year, the Company also anticipates a pension settlement charge. Each of the anticipated adjustments are preliminary and subject to change, and as a result, the Company is not currently able to provide guidance on Net earnings (loss) before continuing operations, which is the most comparable GAAP measure to Adjusted EBITDA.

About SUPERVALU INC.
SUPERVALU INC. is one of the largest grocery wholesalers and retailers in the U.S. with annual sales of approximately $18 billion. SUPERVALU serves customers across the United States through a network of 3,342 stores composed of 1,773 stores operated by wholesale customers serviced primarily by the Company’s food distribution business; 1,368 Save-A-Lot stores, of which 896 are operated by licensee owners; and 201 traditional retail grocery stores (store counts as of June 18, 2016). Headquartered in Minnesota, SUPERVALU has approximately 40,000 employees. For more information about SUPERVALU visit www.supervalu.com.

CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995.

Except for the historical and factual information contained herein, the matters set forth in this news release, particularly those pertaining to SUPERVALU’s expectations, guidance, or future operating results, and other statements identified by words such as “estimates,” “expects,” “projects,” “plans,” “intends,” and similar expressions are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including competition, ability to execute operations and initiatives, ability to realize benefits from acquisitions and dispositions, impact of exploration of possible separation of Save-A-Lot, reliance on wholesale customers and licensees ability to grow or maintain identical store sales, ability to maintain or increase margins, substantial indebtedness, labor relations issues, escalating costs of providing employee benefits, relationships with Albertson’s LLC, New Albertson’s Inc., and Haggen, intrusions to and disruption of information technology systems, impact of economic conditions, commodity pricing, governmental regulation, food and drug safety issues, legal proceedings, pharmacy reimbursement and health care financing, intellectual property protection, severe weather, natural disasters and adverse climate changes, disruption to supply chain and distribution network, changes in military business, adequacy of insurance, volatility in fuel and energy costs, asset impairment charges, fluctuations in our common stock price and other risk factors relating to our business or industry as detailed from time to time in SUPERVALU’s reports filed with the SEC. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Unless legally required,SUPERVALU undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Investor Contact:
Steve Bloomquist
952-828-4144
steve.j.bloomquist@supervalu.com

Media Contact:
Jeff Swanson
952-903-1645
jeffrey.s.swanson@supervalu.com

Source: SUPERVALU INC.

SUPERVALU INC. to present at Goldman Sachs Global Retailing Conference in New York City

MINNEAPOLIS, 2016-Sep-01 — /EPR Retail News/ — SUPERVALU INC. (NYSE: SVU) will participate in next week’s Goldman Sachs Global Retailing Conference in New York City. President and Chief Executive Officer Mark Gross and Executive Vice President, Chief Financial Officer and Chief Operating Officer Bruce Besanko will address investors at approximately 11:20 a.m. (Eastern Time) on Thursday, September 8, 2016.

A live webcast of this event will be available through the SUPERVALU website at http://www.supervaluinvestors.com (click on microphone icon). A replay will be archived on SUPERVALU’s website by going to the “Investors” link and clicking on “Presentations and Webcasts.”

About SUPERVALU INC.
SUPERVALU INC. is one of the largest grocery wholesalers and retailers in the U.S. with annual sales of approximately $18 billion. SUPERVALU serves customers across the United States through a network of 3,342 stores composed of 1,773 stores operated by wholesale customers serviced primarily by the Company’s food distribution business; 1,368 Save-A-Lot stores, of which 896 are operated by licensee owners; and 201 traditional retail grocery stores (store counts as of June 18, 2016). Headquartered in Minnesota, SUPERVALU has approximately 40,000 employees. For more information about SUPERVALU visit www.supervalu.com.

Investor Contact:
Steve Bloomquist
952-828-4144
steve.j.bloomquist@supervalu.com

Media Contact:
Jeff Swanson
952-903-1645
jeffrey.s.swanson@supervalu.com

Source: SUPERVALU INC.

James Weidenheimer named to SUPERVALU’s newly-created position of Executive VP, Corporate Development and Chief Innovation Officer

  • Company announces additional executive role changes and renaming of Independent Business segment to Wholesale

MINNEAPOLIS, 2016-Apr-20 — /EPR Retail News/ — SUPERVALU INC. (NYSE:SVU) today announced that veteran wholesale executive James Weidenheimer, 57, has been named to the newly-created position of Executive Vice President, Corporate Development and Chief Innovation Officer, reporting to SUPERVALU President and Chief Executive Officer Mark Gross. Weidenheimer joins the Company after having spent the last 16 years in senior leadership positions with C&S Wholesale Grocers. He is expected to start in his new role by April 25, 2016.

In this position, Weidenheimer will work closely with SUPERVALU’s Wholesale and Retail teams to develop and execute on market opportunities, including new business development, cross-channel merchandising and promotions, and integration of logistical/delivery solutions for key SUPERVALU customers.

“I’m thrilled that Jim will be joining SUPERVALU and serving on our executive leadership team,” said Gross. “Jim and I have worked together in different capacities over the past 20 years. Jim has a wealth of industry knowledge and extensive expertise in procurement, distribution and logistics and is able to draw on all this experience when considering how to best structure new offerings for a customer. I’m confident that he’ll bring instant credibility to this role and innovation to our business. We believe there are significant opportunities to grow our business with existing customers and also to add new ones and Jim will be an excellent addition to help us achieve these goals.”

Weidenheimer’s background includes serving as Senior Vice President of Corporate Development for C&S Wholesale Grocers from 2008 to January 2016 when he retired from C&S. Prior to C&S, Weidenheimer served as Vice President and Chief Financial Officer for the wholesale division of Richfood Holdings. He holds a bachelor’s degree from the University of Kansas.

SUPERVALU today also announced additional changes to Gross’s executive leadership team. Bruce Besanko, the Company’s Executive Vice President and Chief Operating Officer, has added the responsibilities of Chief Financial Officer, a position he held from August 2013 to October 2015. In his role as both Chief Operating Officer and Chief Financial Officer, Besanko will continue to oversee SUPERVALU’s five regional Retail banners, the Company’s merchandising, marketing and pharmacy functions, and the Finance function, as well as add oversight of SUPERVALU’s Human Resources function. Additionally, the Company announced that Susan Grafton will serve in the position of Senior Vice President, Finance, and Chief Accounting Officer, reporting to Besanko. Grafton will oversee accounting and certain finance functions. These changes to Besanko’s and Grafton’s roles are effective immediately.

The Company also announced the renaming of its Independent Business segment to Wholesale, as wholesale serves as this segment’s primary function, which is to distribute consumable products to retail stores for final sale. Mike Stigers, Executive Vice President, Wholesale, will continue to lead this renamed segment and will report directly to Gross.

“I’m very thankful to have a smart, highly-driven team of executives who have helped me quickly assimilate into my role with SUPERVALU,” said Gross. “I value their contributions and I’m pleased they will be a part of helping me drive the growth of this Company going forward.”

About SUPERVALU INC.
SUPERVALU INC. is one of the largest grocery wholesalers and retailers in the U.S. with annual sales of approximately $18 billion.SUPERVALU serves customers across the United States through a network of 3,407 stores composed of 1,871 independent stores serviced primarily by the Company’s food distribution business; 1,336 Save-A-Lot stores, of which 883 are operated by licensee owners; and 200 traditional retail grocery stores (store counts as of December 5, 2015). Headquartered in Minnesota,SUPERVALU has approximately 40,000 employees. For more information about SUPERVALU visit www.supervalu.com.

Source: SUPERVALU INC.

SUPERVALU INC.
Investor Contact:
Steve Bloomquist, 952-828-4144
steve.j.bloomquist@supervalu.com

Media Contact:
Jeff Swanson, 952-903-1645
jeffrey.s.swanson@supervalu.com

 

SUPERVALU INC. announces the appointment of Mark Gross as its President and CEO

MINNEAPOLIS, 2016-Feb-08 — /EPR Retail News/ — SUPERVALU INC. (NYSE: SVU) today announced the appointment of Mark Gross as the Company’s President and Chief Executive Officer, effective February 5, 2016. Gross, age 52, will succeed Sam Duncanwho has previously announced he will be retiring.

“Mark is a talented, strategic and results-driven leader with a wealth of industry experience,” said Jerry Storch, SUPERVALU’s Non-Executive Chairman of the Company’s Board of Directors. “We are extremely pleased that Mark will be leading SUPERVALU and we look forward to working with him to drive the Company’s performance.”

“I am thrilled to join SUPERVALU,” said Mark Gross. “I am delighted to have the opportunity to help take the Company to the next level and to work with the Board and management team to set the strategic path for the future. I look forward to working with our great customers and the talented group of employees in this Company, including working with Eric Claus as SUPERVALU continues to explore and prepare for a potential spin-off of Save-A-Lot.”

SUPERVALU also announced that Sam Duncan will be stepping down from the Company’s 11-person Board of Directors effective with his retirement on February 29, 2016, and that until that time, he will continue with the Company as a special advisor to the Company’s Board of Directors to facilitate a smooth transition. Gross will be appointed to the Board effective March 1, 2016. Additionally, the Company said that Bruce Besanko, Chief Operating Officer, will report to Gross and continue to oversee the day-to-day operations of the Company’s Independent Business and Retail Foodsegments as well as the Company’s finance organization.

“On behalf of the entire Board of Directors, I want to thank Sam for the tremendous job he has done these past three years,” Storch said. “He has built a terrific leadership team and together they have established a strong foundation and positioned the Company for future success. We wish Sam all the best in his retirement.”

“I am proud of all that we have accomplished these past three years and thankful for the opportunity I’ve had to lead this great Company,” said Sam Duncan. “SUPERVALU has tremendous employees, customers and licensees and I leave here knowing the Company is in good hands with a strong leadership team and a great foundation in place to build on.”

About Mark Gross
Mark Gross joins SUPERVALU with 20 years of grocery and wholesale leadership experience. From 1997 to 2006, Gross worked atC&S Wholesale Grocers, including serving as Co-President of C&S’s overall operations from 2005-2006. Additionally, during his tenure with C&S, Gross served as Chief Financial Officer, General Counsel, and President of its affiliated retail grocery operations.

For the past decade, Gross has led Surry Investment Advisors, a firm he founded, to provide consulting services to grocery distributors and retailers with respect to strategic and operational matters. In this advisory role, he has assisted grocery clients on several multi-billion dollar acquisitions and divestitures and consulted with private equity firms with respect to investments in food retail, distribution and consumer packaged goods sectors.

Gross earned his law degree from the University of Pennsylvania, graduating Cum Laude, and holds a BA from Dartmouth College, where he graduated with the highest honors in his major.

About SUPERVALU INC.
SUPERVALU INC. is one of the largest grocery wholesalers and retailers in the U.S. with annual sales of approximately $18 billion.SUPERVALU serves customers across the United States through a network of 3,407 stores composed of 1,871 independent stores serviced primarily by the Company’s food distribution business; 1,336 Save-A-Lot stores, of which 883 are operated by licensee owners; and 200 traditional retail grocery stores (store counts as of December 5, 2015). Headquartered in Minnesota,SUPERVALU has approximately 40,000 employees. For more information about SUPERVALU visit www.supervalu.com.

CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995.

Except for the historical and factual information contained herein, the matters set forth in this news release, particularly those pertaining to SUPERVALU’s expectations, guidance, or future operating results, and other statements identified by words such as “estimates,” “anticipates,” “expects,” “projects,” “plans,” “intends” and similar expressions are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including uncertainties as to the transition of the role of the Company’s President and Chief Executive Officer from Mr. Duncan to Mr. Gross, the terms, timing or structure of any Save-A-Lot separation transaction and whether one will be consummated at all, and the impact of the leadership transition or any separation transaction on the businesses of SUPERVALU and the Save-A-Lot. Other factors include competition, ability to execute initiatives, substantial indebtedness, labor relations issues, escalating costs of providing employee benefits, relationships with Albertson’s LLC, New Albertson’s, Inc. and Haggen, intrusions to and disruption of information technology systems, impact of economic conditions, governmental regulation, food and drug safety issues, legal proceedings, severe weather, natural disasters and adverse climate changes, disruption to supply chain and distribution network, changes in military business, adequacy of insurance, volatility in fuel and energy costs, asset impairment charges, fluctuations in our common stock price and other risk factors relating to our business or industry as detailed from time to time in SUPERVALU’s reports filed with the SEC. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Unless legally required, SUPERVALU undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Source: SUPERVALU INC.

SUPERVALU INC.
For Investors:
Steve Bloomquist, 952-828-4144
Steve.j.bloomquist@supervalu.com
or
For Media
Jeff Swanson, 952-903-1645
Jeffrey.swanson@supervalu.com

 

###

SUPERVALU Appoints Mark Gross President and Chief Executive Officer (Photo: Business Wire)

SUPERVALU Appoints Mark Gross President and Chief Executive Officer (Photo: Business Wire)