Broker/Wholesaler Corner
Supervalu weighing separation of its Save-A-Lot business
Minneapolis-based Supervalu Inc. said that it is exploring separation of its Save-A-Lot business and that as part of that process, it has begun preparations to allow a possible spin-off of Save-A-Lot into a standalone publicly traded company.
“Save-A-Lot is a leading national hard discount retailer with over 1,300 total stores, comprised of approximately 430 corporate stores and approximately 900 stores operated by licensee owners, and we believe Save-A-Lot has significant growth potential,” said Supervalu President and CEO Sam Duncan. “Over the last two and a half years, Save-A-Lot has repositioned its brand, refocused its efforts on fresh produce and meat, and remerchandised its stores and product offerings to better appeal to a broader group of customers.
“Today’s announcement reflects our commitment to continuing to explore ways to maximize value for our shareholders,” he continued. “We believe a separation of our Save-A-Lot business could allow Save-A-Lot, our independent business and our retail food banners to better focus on their respective operations and pursue strategies specific to their business characteristics and growth potentials, for the benefit of our shareholders, customers, licensees and employees.”
No specific timetable for a separation has been set, and there can be no assurance that a separation of Save-A-Lot will be completed or that any other change in the company’s overall structure or business model will occur, Supervalu stated.
Supervalu said it engaged Barclays and Greenhill to serve as financial advisors, and Wachtell, Lipton, Rosen and Katz as legal advisor, in connection with this possible separation.
Associated Food Stores exclusive distributor of Red Button Vintage Creamery ice cream
Salt Lake City-based Associated Food Stores said it will be the exclusive distributor of Red Button Vintage Creamery ice cream. The premium dessert was created through a partnership with Cache Valley, Utahbased Casper’s, the parent company of Fat Boy.
Red Button Vintage Creamery ice cream is made with the freshest ingredients, including whole milk and all-natural sugar, to provide a consistently smooth and rich treat. Each of the 18 different flavors, which include classics such as Vanilla Bean and Mint Chocolate Chip, as well as unique choices such as Black Licorice, Raspberry Lemonade (sherbet) and Sprinkled Animal Cookie, are curated in small batches to ensure each is rich and creamy. Each 56-ounce carton has an average retail price of $4.99, Associated Food Stores said.
“We are pleased to announce the addition of Red Button Vintage Creamery ice cream, exclusively available at independent retailers supplied by Associated Food Stores,” said Neal Berube, CEO, Associated Food Stores. “We love the rich, creamy, premium taste and are certain our guests will, too.”
Shoppers can find Red Button Vintage Creamery at any Macey’s, Fresh Market, Dan’s, Dick’s Market, Lin’s, Peterson’s, Lee’s MarketPlace, Stokes and other participating Associated Food Stores retailers, the company said.