- Schnucks to also acquire related
Shop ‘n Save Pharmacies and four Shop ‘n Save Fuel Centers
SUPERVALU INC. (NYSE: SVU) today announced it has entered into a
definitive agreement to sell 19 of its 36 Shop ‘n Save grocery
stores, primarily located in the St. Louis, Mo. area, to Schnuck
Markets, Inc. The transaction is planned to occur with a staggered
close process that is currently expected to finish by late October
2018, subject to customary closing conditions. As part of the
acquisition, SUPERVALU and Schnucks will also enter into an
agreement for SUPERVALU to serve as the primary supplier for nine
of Schnucks’ existing stores located across northern Illinois, Iowa
and Wisconsin.
“Since announcing plans to pursue the sale of our Shop ‘n Save
banner earlier this Spring, the team has worked diligently and
successfully to put this agreement together,” said Mark Gross,
SUPERVALU’s President and CEO. “This transaction is an important
step in the continued transformation of our business. Schnucks is
an excellent retailer in the St. Louis area and we’re pleased that
these stores will become a part of their operation, including
continuing to serve the communities and providing jobs to many of
our employees.”
As part of the acquired stores, Schnucks will acquire 15
in-store pharmacy locations and one stand-alone pharmacy (16 in
total) which will remain open, and prescription files at 10 other
Shop ‘n Save pharmacy locations that will be transferred to other
Schnucks pharmacies in the area. Customers of the Shop ‘n Save
pharmacies that will close will receive detailed information on the
transfer of their pharmacy files by mail within the next several
days, and information will also be available at each pharmacy.
Schnucks will also acquire four of Shop ‘n Save’s seven fuel
centers.
A complete list of stores, pharmacies and fuel centers to be
sold to Schnucks under this agreement, along with a list of
correlating pharmacies where prescription files will be
transferred, is included in the addendum to this press release.
All Shop ‘n Save stores and fuel centers not included in this
announcement currently remain open. In the event SUPERVALU cannot
identify one or more buyers for these remaining stores in the near
term, they will be closed later this year. Additionally, since
SUPERVALU’s St. Louis Distribution Center (Hazelwood Avenue)
predominantly serves Shop ‘n Save stores, SUPERVALU expects to
close this distribution center later this year following the
completion of this transaction and any sales or closures of the
remaining Shop ‘n Save stores. Employees at the remaining stores
and distribution center will receive notifications and potential
end dates as the Company prepares to either sell or, if not sold,
close the locations. Employees affected by this change, and who
continue their employment through their end date with the Company,
can qualify for severance and other transition-related
assistance.
Founded in 1979 and headquartered in Kirkwood, Mo., Shop ‘n Save
has served the St. Louis market and surrounding area for nearly 40
years, and today employs approximately 2,800 associates.
PJ SOLOMON is acting as financial advisor to SUPERVALU.
About SUPERVALU INC.SUPERVALU INC. is one of the largest
grocery wholesalers and retailers in the U.S. with annual sales of
approximately $15 billion. SUPERVALU serves customers across the
United States through a network of 3,606 stores composed of 3,495
wholesale primary stores operated by customers serviced by
SUPERVALU’s food distribution business and 111 traditional retail
grocery stores in continuing operations operated under three retail
banners in three geographic regions (store counts as of June 16,
2018). Headquartered in Minnesota, SUPERVALU has approximately
23,000 employees (in continuing operations). For more information
about SUPERVALU visit www.supervalu.com.
Forward Looking
Statements
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, particularly those pertaining to
the expected completion of the sales of Shop ‘n Save stores
(including the timing thereof), the ability to consummate the sales
and 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 the ability to satisfy the closing
conditions and close the proposed sales on a timely basis or at
all, the possibility that modifications to the terms of the
transactions may be required, business disruption, ability to
effectively retain key employees and ability to effectively manage
organization changes during the pendency of or following the
transactions, and other risk factors relating to the 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. For more information, see the risk factors described
in SUPERVALU’S Annual Reports on Form 10-K, Quarterly Reports on
Form 10-Q and other filings with the SEC. 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.
LIST OF SHOP ‘N SAVE STORES BEING SOLD TO SCHNUCKS
AS PART OF THIS ANNOUNCEMENT
Sq.
Shop 'n Save
Location
City/State
Zip
Footage
Pharmacy;
Fuel
1721 Homer M. Adams Parkway Alton, IL
62002 51,100 No 800 Carlyle Avenue
Belleville, IL 62221
61,525 Pharmacy 634 Berkshire Blvd East
Alton, IL 62024 22,000 No
2122 Troy Road Edwardsville, IL 62025
55,139 Pharmacy 1900 East Edwardsville
Road Wood River, IL 62095
42,130 Fuel 1253 Water Tower Place
Arnold, MO 63010 60,135
Pharmacy 7909 State Highway N Dardenne Prairie, MO
63368 70,290 Pharmacy 45
Gravois Bluffs Plaza Fenton, MO 63026
63,933 Pharmacy 1275 North Truman Blvd
Festus, MO 63028 60,000
Pharmacy; Fuel 2183 Charbonier Rd.
Florissant, MO 63031 53,140
Pharmacy 1032 Lemay Ferry Road Lemay, MO
63125 56,198 Pharmacy
3740 Monticello Plaza O'Fallon, MO
63368 58,435 Pharmacy 1421 Mexico Loop
Road East O'Fallon, MO 63366
54,180 Pharmacy 10634 St. Charles Rock Road
St. Ann, MO 63074 65,898
Pharmacy; Fuel 60 Harvester Square St.
Charles, MO 63303 71,482
Pharmacy 9070 St. Charles Rock Road St. John, MO
63114 66,250 Pharmacy;
Fuel 7057 Chippewa Street St. Louis, MO
63119 77,000 Pharmacy 5780 South
Lindbergh Blvd. St. Louis, MO 63123
78,396 No 100 Jungerman Road
St. Peters, MO 63376 57,263
Pharmacy 500 West Highway 50 Union, MO
63084 6,405 Standalone
Pharmacy
LIST OF REMAINING SHOP ‘N SAVE PHARMACIES
WHOSE PRESCRIPTION FILES ARE BEING TRANSFERRED TO
SCHNUCKS
Shop 'n Save
Pharmacy
Location
City/State/Zip
Transferring to
Schnucks location
City,
State/Zip
4201 North Belt West Belleville, IL 62226
5720 North Belt West Belleville, IL 62226
15446 Manchester Road Ellisville, MO 63011
15425 Manchester Rd Ballwin, MO 63011 175
Flower Valley Shopping Center Florissant, MO 63033
13987 New Halls Ferry Rd Florissant, MO
63033 10805 Old Halls Ferry Road Ferguson, MO 63136
1589 Sierra Vista Plaza Florissant, MO
63138 3521 Nameoki Road Granite City, IL 62040
3100 Madison Ave Granite City, IL 62040 1023
Crossroads Place High Ridge, MO 63049
20 Dillon Plaza Drive High Ridge, MO 63049 10461
Manchester Road Kirkwood, MO 63122
10233 Manchester Rd Kirkwood, MO, 63122 9521 Lewis
& Clark Blvd Moline Acres, MO 63136
8037 West Florissant Ave Jennings, MO 63136 4660
Chippewa St St. Louis, MO 63116 5055
Arsenal St. Louis, MO 63139 196 Mayfair Plaza
Florissant, MO 63033 1589 Sierra Vista Plaza
St. Louis, MO 63138
NOTE: Within the next several days, customers of these
Shop ‘n Save pharmacies will receive by mail detailed information
on the transfer of their pharmacy files and information will also
be available at each Shop ‘n Save pharmacy.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180917005814/en/
SUPERVALUInvestors:Steve Bloomquist,
952-828-4144steve.j.bloomquist@supervalu.comorMedia:Jeff
Swanson, 952-903-1645jeffrey.s.swanson@supervalu.com
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