US-based Supervalu has signed an agreement to acquire 22 Food Lion grocery stores, which are being divested in connection with the Ahold and Delhaize merger.
Located in northern West Virginia, western Maryland, south-central Pennsylvania and north-western Virginia, the purchased outlets will be transformed into Supervalu's Shop ‘N Save stores.
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Supervalu has almost 100 independently operated Shop ‘N Save outlets in western Pennsylvania and West Virginia.
The 22 stores are not part of Supervalu's corporately owned Shop ‘n Save brand, under which there are 44 stores in the St Louis, Missouri. However, they will benefit from both the scale of the format, and similar merchandising and marketing strategies.
Supervalu president and CEO Mark Gross said: “The stores will operate under our Shop ‘N Save format, which we believe is a great format for us and our wholesale customers. This acquisition is another example of the work we’re doing to grow our business and to deliver creative solutions for our wholesale customers.”
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The 22 stores employ more than 1,200 full-time and part-time associates.
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By GlobalDataThe acquisition is subject to customary closing conditions, including approval from the FTC, and expected to be completed over the next 105 days.
