SuperValu stockholders clear merger with United Natural Foods Inc.
Stockholders of Eden Prairie, Minn.-based SuperValu have approved the proposed acquisition announced in July by Providence, R.I.-based United Natural Foods Inc. (UNFI), according to a press release.
Subject to customary closing conditions, the merger is expected to finalize Oct. 22, SuperValu said in the press release. SuperValu, one of the largest grocery wholesalers and retailers in the U.S. with annual sales of approximately $15 billion serves customers across the U.S. through a network of 3,606 stores, mostly independent retailers.
In July, SuperValu entered an agreement under which UNFI would acquire it for about $2.9 billion, including the assumption of outstanding debt and liabilities. At the same time, UNFI also revealed it planned to sell SuperValu’s retailers, which it is already doing.
SuperValu offers several tiers of private brands, including Essential Everyday and Wild Harvest.