SuperValu Acquires Associated Grocers of Florida
MINNEAPOLIS, MN – With mere weeks left in 2017, SuperValu is ending the year on a high note, completing its second acquisition of the year. Continuing to strategically invest in growing its wholesale business, SuperValu has acquired the Associated Grocers of Florida in a transaction valued at approximately $193 million. With annual sales of approximately $650 million in its last fiscal year, the Associated Grocers of Florida will add to SuperValu’s growing national distribution network and bolster the retailer’s expansion strategy.
“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, President and CEO of SuperValu, in a company press release. “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.”
Along with the acquisition, the retailer is also appointing the Associated Grocers of Florida's former President Christopher Miller as the President of SuperValu Florida.
“Chris has built a great team, and we’re very excited that they’re now a part of our SuperValu family,” continued Gross. “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.”
Will 2018 continue the upward trajectory SuperValu began this year with its latest acquisitions? AndNowUKnow will continue to report as we leave behind 2017 and look forward to 2018.
