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May 4, 2018updated 07 May 2018 2:36pm

Supervalu completes sale of 21 Farm Fresh stores in US

US-based grocery wholesaler and retailer Supervalu has completed the sale of its 21 Farm Fresh stores to three retailers, including Harris Teeter, Kroger Mid-Atlantic Division and Food Lion.

US-based grocery wholesaler and retailer Supervalu has completed the sale of its 21 Farm Fresh stores to three retailers, including Harris Teeter, Kroger Mid-Atlantic Division and Food Lion.

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In March this year, the retail chain signed three separate definitive agreements with the three retailers to sell 21 of its 38 Farm Fresh Food and Pharmacy stores for $43m in cash.

The transaction covered in-store pharmacies and fuel centres, of which, ten stores were acquired by Harris Teeter, eight stores by Kroger Mid-Atlantic Division, and three stores by Food Lion.

“The grocery chain is planning to pursue the sale of its remaining Farm Fresh stores to current and prospective wholesale customers.”

Supervalu president and CEO Mark Gross said: “I appreciate the team’s work timely completing these transactions. Every day we’re working to continue the rapid transformation of our business, and the exit from our Farm Fresh banner is another step forward in becoming the grocery supplier of choice for retailers across the country.”

In addition, the grocery chain is planning to pursue the sale of its remaining Farm Fresh stores to current and prospective wholesale customers.

Supervalu also signed agreements to transfer pharmacy prescription files from ten pharmacies to Rite Aid and four pharmacies to CVS Pharmacy.

The retail chain currently operates a network of 3,437 stores, including 3,323 customer-operated wholesale primary stores 114 traditional retail grocery stores.

Headquartered in Minnesota, the company operates three retail banners, including Shop ‘N Save and Farm Fresh across three geographic regions.

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Consumers have radically re-thought their priorities in recent years: find out what new trends and needs are arising and how these can be addressed through selecting the right ingredients in product formulations. GlobalData’s report on Trending Ingredients in FMCG offers a deep dive into popular and emerging ingredients across FMCG categories. Gain insights into how positively or negatively consumers perceive these ingredients, appraise the latest product formulations incorporating these ingredients, and learn how to successfully leverage these credentials in NPD and marketing. This report covers:
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  • Ingredients in Food & Drink
  • Ingredients in Beauty & Grooming
  • Ingredients in Household Care
Take a look now to understand which ingredients are impressing consumers, and make them work for your brand.
by GlobalData
Enter your details here to receive your free Report.