United Natural Foods wraps up Supervalu acquisition
Distributor sees opportunities with larger scale, more diverse business
United Natural Foods Inc. (UNFI) today finalized its $2.9 billion deal to buy fellow food wholesaler Supervalu Inc.
With the transaction’s closing, trading of Supervalu’s common stock will cease as of the market open on Oct. 22 and be delisted from the New York Stock Exchange. Supervalu shareholders approved the acquisition agreement on Friday.
Steve Spinner (photo at left), chairman and chief executive officer of UNFI, will lead the merged company. Overseeing Supervalu as CEO will be Sean Griffin. Formerly chief operating officer at UNFI, Griffin was named to the Supervalu post last month and takes over from Mark Gross, who stepped down as the Minneapolis-based company’s president and CEO with the completion of the acquisition. Supervalu’s Mike Stigers, executive vice president of wholesale, and Anne Dament, executive vice president of retail, marketing and private brands, will report to Griffin.
