SuperValu (United States)
Cub Foods and Shoppers | |
Website | supervalu |
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SuperValu, Inc., was an American wholesaler and retailer of grocery products. The company, formerly
On July 26, 2018, SuperValu announced that it had agreed to be purchased by Providence, RI-based United Natural Foods Inc., the largest distributor to Whole Foods Market and other natural foods stores. UNFI would pay $1.3 billion in cash and assume another $1.6 billion in SuperValu debt and liabilities. UNFI said it expects the deal to result in roughly $175 million in savings over three years and that it would divest itself of SuperValu's grocery stores.[2]
As of June 8, 2022, the SuperValu brand seems to be discontinued for everything besides some small-scale grocery stores. The distribution facility in Hopkins, Minnesota, has been rebranded to UNFI.[citation needed]
History
In 1870, Hugh G. Harrison provided the money for B.S. Bull and Company, a dry goods wholesaler serving Minneapolis. Though B.S. Bull and Company was short lived, its founders went on to create a similar company. In 1926, SuperValu's direct ancestor, Winston and Newell Company, was founded from the merger of Winston, Harper and Fisher and the Newell Company, two companies founded by B. S. Bull's backers.
Winston and Newell was a
The company was first listed on the New York Stock Exchange in 1967.[3]
Acquisitions
In 1955, SuperValu acquired Joannes Brothers Company of Green Bay, Wisconsin, a wholesale and retail grocer serving Wisconsin and northern Michigan since 1872. Joannes Brothers became SuperValu's Green Bay Division, moving from its original downtown Green Bay location to a modern facility in the city's suburbs.[4]
In 1963, the company acquired the Food Marketing Corporation of Fort Wayne, Indiana, which traced its roots to the early 1800s, as Bursley & Company. The acquisition of Food Marketing brought SuperValu into the institutional
In 1971, the
In 1975, SuperValu acquired Hornbacher's.[7]
In 1980, the company acquired Minnesota-based Cub Foods, which operated five stores in the Twin Cities area. As of 2011, Cub is operating more than 73 stores in Minnesota and Illinois.
In the early 1990s, SuperValu started acquiring several chains such as
In 2003, SuperValu acquired the former Midwest operations of
On January 23, 2006, SuperValu announced that it, along with
SuperValu acquired over 2150 stores in the deal including:
- Acme (134 locations) (sold to Cerberus)
- Acme Express, Jewel Express, and Albertsons Express (107 fuel centers) (units were divested to various operators)
- Albertsons(564 locations) (sold to Cerberus)
- Bristol Farms (15 locations) (later sold off)
- Jeweland Jewel-Osco (198 locations sold to Cerberus)
- Lazy Acres Market(1 location) (later sold off)
- Max Foods (3 locations) (later rebranded Lucky)
- Osco Pharmacyand Sav-on Pharmacy (906 pharmacies) (Stand-alones sold to CVS)
- Save-A-Lot (2 locations franchised by Shaw's)
- Shaw's(188 locations) (sold to Cerberus)
- Star Market (20 locations) (7 re-branded Shaw's) (sold to Cerberus)
In 2009, former Walmart executive Craig Herkert took over for Jeff Noddle as CEO of SuperValu.[9]
On January 6, 2011, SuperValu announced it would close 20 underperforming stores. On January 11, 2011, SuperValu reported a
In September 2011, SuperValu announced the sale of all but 27 of its fuel centers to several convenience store chains, including Tesoro, Holiday Stationstores, Couche-Tard (which operates Circle K Stores), and Stinker Stores. The company announced that it was seeking buyers for the remaining fuel centers as well.
In 2012, SuperValu operated 2,505 food and food/
On July 11, 2012, after the close of
On July 30, 2012, Craig Herkert was let go as CEO of SuperValu, replaced with Wayne Sales.[13] Sales was CEO of Canadian Tire from 2000 to 2006.[14][15]
In January 2013, the company announced it was selling the
On January 13, 2013, Sam Duncan, who had retired as CEO of OfficeMax in 2011, was named CEO of SuperValu.[19][20] Duncan announced his retirement in October 2015.[20]
In July 2016, it was announced that SuperValu had entered into a purchase agreement with
On February 3, 2016, Mark Gross was named CEO of SuperValu, replacing Sam Duncan.[22]
In October 2016, SuperValu announced they were selling Save-A-Lot to Onex Corporation.[23]
In April 2017, the company announced that it had entered into a $375 million
Sale of Company
On July 26, 2018, United Natural Foods agreed to buy Supervalu for $2.9 billion in cash.[26]
On October 22, 2018, UNFI completed the acquisition of Supervalu. Sean Griffin was named the CEO of Supervalu, replacing Mark Gross.[27]
Overview
As a supplier to IGA stores for over 80 years, SuperValu necessarily has formed close relationships with these
SuperValu enjoys
The
SuperValu brands include:
- Arctic Shores
- Baby Basics
- Carlita
- Culinary Circle
- Equaline
- Essential Everyday
- Farm Fresh
- Farm Stand
- Flavorite
- WholeCare Pet
- Homelife
- Java Delight
- Max Velocity
- NutriPlan
- Richfood
- Shoppers Value
- Stockman & Dakota
- Stone Ridge Creamery
- SuperChill
- SuperCrunch
- Wild Harvest
SuperValu also owns two third-party logistics firms, Advantage Logistics and Total Logistic Control. In 2005, SuperValu launched a specialty produce company, W. Newell & Company which is headquartered in Champaign, Illinois.
Chains
At the time of its acquisition by United Natural Foods in 2018, the company operated under multiple retail banners, or chains:
- County Market over 100 locations independently owned (Iowa, Illinois, Indiana, Louisiana, Michigan, Minnesota, Missouri, Mississippi, Pennsylvania, Washington, and Wisconsin)
- .)
- Festival Foods licensed locations in Wisconsin, Minnesota, and Michigan.
- FoodLand licensed locations in Pennsylvania, West Virginia, Ohio and Kentucky.
- Sentry Foods 6 licensed locations in Wisconsin
- Shoppers Food & Pharmacy 56 locations (Washington, D.C., Baltimore, MD and Northern VA)
- Shoppers Value Foods licensed cost-plus supermarkets
- SuperValu Pharmacies 109 pharmacies (Nationwide)
Former chains
SuperValu had previously operated other chains:
- Acme Markets 117 locations (DE, Eastern & Northern MD, NJ, Eastern PA) Sold to Albertsons LLC
- ) Sold to Albertsons LLC
- Acme Express, Albertsons Express and Jewel Express (nationwide) Fuel centers and convenience stores - sold in 2011
- in 2010
- Bristol Farms (Southern CA) Spun off in 2010
- Farm Fresh Food & Pharmacy (Norfolk, Virginia) In 2018, 21 locations sold to The Kroger Co. and Ahold Delhaize and converted to their existing brands, 6 locations were bought by independent franchisers, and the remaining locations closed.
- Grand Forks, ND/MN) 8 locations with 7 of those locations were sold to Coborns in 2018, the remaining location was in Grand Forks, North Dakota, and closed.
- Lazy Acres
- Max Foods (Southern CA) Locations rebranded Lucky
- Jewel-Osco 182 locations in IL, eastern IA, northwestern IN and southeastern WI Sold to Albertsons LLC
- Marsh Supermarkets-former Indianapolis based supermarket with 86 stores in 2013 in Ohio and Indianapolis
- Las Vegas and Southern CA) Sold to Albertsons LLC
- Sav-on Pharmacy722 pharmacies (Nationwide) Sold to Albertsons LLC
- Rainbow Foods (Minnesota) Closed in 2018
- Save-A-Lot 1250 locations of which 860 were franchised (Nationwide) Sold to Onex Corporation
- The Kroger Co.in 2007
- Those 19 stores were converted to Schnucks stores. SuperValu closed the remaining locations on November 19, 2018 after SuperValu couldn't find a buyer for the remaining locations.
- Shop 'n Save (Pittsburgh) (Pittsburgh-based), sold off to independent owners who collectively manage the brand. Not to be confused with the former St. Louis-area Shop 'n Save stores.
- ShopKoSpun off in 1991, remaining interest sold in 1997
- Shaw's and Star Market 169 locations (MA, ME, NH, RI and VT) Sold to Albertsons LLC.
- Sunflower Market (Indianapolis) Five locations closed in 2008
- Twin Valu (Ohio) Hypermarket concept, closed in 1996
- KMART food supplier to all Kmart locations-Fate now defunct
Product labels
Many of the banners have "
These are the current active private label brands for SuperValu:
- Arctic Shores - Seafood products.
- Baby Basics - Baby products (originally an Albertsons brand)
- Carlita - Hispanic foods
- Cub - Store generic brand
- Culinary Circle - Restaurant quality food
- Essential Everyday - Private Label National Brand Equivalent
- Equaline - OTC Pharmacy and Personal Care National Brand Equivalent (originally an Albertsons brand)
- Farm Fresh - Store generic brand
- Farm Stand - Produce
- Flavorite - introduced by store 178 in year 1997, the focus of this label is low cost soda.
- Happy Tails (now Whole Care Pet) - Line of pet foods. (originally an Albertsons brand)
- Heritage - Liquors
- Java Delight - Supervalu's own brand of coffee, is sourced from Distant Lands Coffee
- Max Velocity - Energy Drinks
- NutriPlan - Pet Foods
- Richfood - Store generic brand
- Shoppers Value - Extreme value generic brand
- Stockman & Dakota - Premium beef
- Stone Ridge Creamery - Ice cream, frozen yogurt and sherbet
- Wild Harvest - Organic Produce, Meat and Snack Foods (originally a Shaw’sbrand)
- SuperChill - Soft Drinks and New Age Beverages
- SuperCrunch - Snack Foods
- Village Market
- Wild Harvest Organic Foods - Natural and organic products
Some of the older inactive private label brands are:
- Hillfarm
- Economy Buy
- Home Best
- Essensia (originally an Albertsons brand)
- Chateau
- Quality Plus
- Elf
Culture
Diversity
SuperValu received a 100% rating on the Corporate Equality Index released by the Human Rights Campaign starting in 2008.[28]
Environment
Cub Foods and its parent company, SuperValu, was the first grocer in Minnesota to be awarded LEED (
Albertsons was the first major retailer to earn a LEED Certification on their remodeled La Habra store.
In August 2009, SuperValu was recognized by the
Accounting irregularities and practices in 2002
In June 2002, SuperValu announced it would restate previous financial reports due to accounting irregularities uncovered at its pharmacy division. As a result, shares of the company slumped 18 percent. On July 12, 2002, SuperValu lost a lawsuit over the use of improper accounting practices regarding the cost of goods sold for at least the previous four years, and paid a $4,000,000 settlement.[32]
See also
- Grocer
- List of supermarket chains in the United States
- List of S&P 500 companies
- List of companies based in Minneapolis–Saint Paul
- George R. Newell House (Minneapolis, Minnesota)
Notes
References
- ^ "Directory Archived 2012-07-18 at the Wayback Machine." SuperValu. Retrieved on July 22, 2010.
- ^ Ewoldt, John; Painter, Kristen Leigh (July 26, 2018). "Sale of Supervalu puts future of Cub Foods up in the air". Star Tribune. Minneapolis. Retrieved January 10, 2019.
- ^ "Supervalu off stock market for first time since 1967 as United Natural Foods completes $2.9 billion deal". Star Tribune. Retrieved 2019-11-07.
- ^ FundingUniverse. "Supervalu Inc. History". FundingUniverse. Retrieved 5 May 2023.
- ^ "Supervalu Inc". Funding Universe. Retrieved 17 April 2012.
- ^ "Supervalu Stores Name New Top Executive Officer". Van Wert Times Bulletin. 12 November 1970. Retrieved 17 April 2012.
- ^ "Coborn's will buy most Hornbacher's stores as Supervalu's new owner begins making grocery deals". Star Tribune. Retrieved 2019-11-07.
- ^ "Supervalu, C&S Authorize Asset Exchange Agreement". Progressive Grocer. Retrieved 2018-10-15.
- ^ "Supervalu names Craig Herkert CEO". Progressive Grocer. 2009-05-07. Archived from the original on August 11, 2009. Retrieved 2009-08-03.
- ^ Sarah Skidmore (January 11, 2011). "Supervalu loses money in 3Q, cuts outlook for year". National Business. Retrieved January 12, 2011.
- ^ Securities and Exchange Commission, Form 10-K Filing https://www.sec.gov/Archives/edgar/data/95521/000095012310037777/c56441e10vk.htm
- ^ "Supervalu high yield bonds drop, CDS gaps out after poor quarterly report". LeveragedLoan.com. 2012-07-12. Retrieved 2013-01-11.
- ^ "Supervalu sacks CEO following disappointing quarter". kare11.com. 2012-07-30. Archived from the original on 2013-01-27. Retrieved 2013-01-11.
- ^ "Wayne C. Sales to Become SUPERVALU President and Chief Executive Officer, Replacing Craig Herkert" (Press release). Business Wire. July 30, 2012.
- ^ Gasparro, Annie (July 30, 2012). "Supervalu Replaces CEO in a Bid to Speed Turnaround". The Wall Street Journal.
- ^ "Supervalu sells grocery chains, including Albertsons, to Cerberus". Los Angeles Times. 2013-01-10. Retrieved 2019-11-07.
- ^ "Supervalu to sell 5 grocery chains, including Albertson's, Jewel-Osco, to Cerebus-led group". The Washington Post. Associated Press. Archived from the original on 2019-01-17. Retrieved 2013-01-11.
- ^ Hamstra, Mark (March 16, 2018). "Supervalu selling off Farm Fresh stores". Supermarket News.
- ^ "Incoming Supervalu CEO Duncan to make $1.5 million, plus extras". Twin Cities. 2013-01-13. Retrieved 2019-11-07.
- ^ a b "Supervalu CEO Sam Duncan to retire". Star Tribune. Retrieved 2019-11-07.
- ^ "SUPERVALU Looks to Expand Wholesale Business With Acquisition of 22 Food Lion Stores in West Virginia, Maryland, Pennsylvania and Virginia". Benzinga.com. July 13, 2016. Retrieved July 13, 2016.
- ^ "SUPERVALU INC. - Grocery Retail and Supply Chain Services - Investors - News Release". Retrieved 18 October 2016.
- ^ "Supervalu to Sell Save-A-Lot Chain to Onex for $1.37 Billion". Bloomberg. Retrieved October 17, 2016.
- ^ The Business Tribune. Portland, Oregon. p. 11. Retrieved 2017-04-24.
- ^ Boss, Donna (October 18, 2017). "Supervalu to acquire AG of Florida". Supermarket News.
- ^ Haddon, Heather (26 July 2018). "United Natural Foods to Buy Grocery-Store Chain Supervalu in $2.9 Billion Deal". Wall Street Journal. Retrieved 26 July 2018.
- ^ "UNFI Completes Supervalu Acquisition". Retrieved 22 October 2018.
- ^ "2008 Corporate Equality Index". Supervalu Receives Perfect Score on Human Rights Campaign's Corporate Equality Index. Reuters. 2008-09-08. Archived from the original on 2009-04-29. Retrieved 2008-11-08.
- ^ "Minnesota Grocer Cub Foods Awarded First LEED Gold NC2.2 Building Certification in State". Reuters. 2009-06-22. Archived from the original on 2012-09-11. Retrieved 2009-09-09.
- ^ "Albertson's Recognized as First Major Grocery Retailer to Earn LEED Certification on a Remodel". EarthTimes. 2009-08-19. Retrieved 2009-09-09.
- ^ "EPA Recognizes Supervalu, Inc., for Achieving Emissions Target as Part of GreenChill Program". U.S. Environmental Protection Agency. 2009-08-25. Retrieved 2009-09-09.
- ^ "Supervalu, Inc". Archived from the original on 2013-10-19.
External links
- SuperValu and a SuperValu History
- SuperValu store brands
- SuperValu 2008 Annual Report
- Most recent Quarter Results.Oliver, David (2008-07-22). "SuperValu Reports Record First Quarter Fiscal 2009 Earnings". BUSINESS WIRE. Retrieved 2008-10-02.
- Craig Herkert Forbes Profile
- Cole, Heather. "Family-owned SuperValu survives in battle against superstores ." St. Louis Business Journal. December 1, 2002.