MINNEAPOLIS, MN - Putting an end to the saga that saw Blackwells Capital and SuperValu vying for control of the retailer’s board, the activist investor and the grocer have reached consensus. Pending United Natural Foods' (UNFI) acquisition, SuperValu has announced that it has entered into an agreement with Blackwells—effectively ending the struggle for control of the company’s board.

“We are pleased to have reached this agreement with Blackwells, as we may now dedicate our full attention to continuing to operate our business and to completing the transaction with UNFI, which delivers a substantial premium and immediate and certain value to our stockholders,” said Donald Chappel, Chairman of the Board, in a press release.

According to that press release, the terms of the agreement are as follows: Blackwells has agreed to withdraw its director nominees and vote all of its shares in support of SuperValu’s full slate of directors at the company’s upcoming 2018 Annual Meeting of Stockholders, to be held on August 16, 2018. Blackwells has also withdrawn its stockholder proposal to be considered at the 2018 Annual Meeting and agreed to abide by certain customary standstill provisions, which will be in effect until July 30, 2019.

The formal terms of the two parties’ agreement can be found in here.

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