US-based retailer Supervalu (SVU) has completed its $193m acquisition of Associated Grocers (AG) of Florida, a wholesale grocery distributor.
The transaction is the second completed acquisition for SVU this year, as part of its strategic investment.
SVU had reported an annual sales turnover of approximately $650m in its previous financial year.
SVU president and CEO said: “The addition of Associated Grocers of Florida is another important step on our journey to becoming the wholesaler of choice for grocery retailers.
“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.”
With an annual sales turnover of approximately $16bn and 31,000 employees, SVU has more than 3,337 stores across the US, 3,120 of which are wholesale and 217 are retail stores.
Gross added: “I’m also thrilled that Christopher Miller, AG’s former president, will continue with us in a similar role as president of Supervalu Florida going forward. Chris has built a great team and we’re very excited that they’re now a part of our Supervalu family.
“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.”
Established in 1945, Associated Grocers of Florida supplies groceries to independent retailers and regional chains throughout Florida, Central America, South America and Caribbean countries.