SuperValu Announces Plans to Sell 19 of Its 36 Shop ‘n Save Stores to Schnuck Markets
MINNEAPOLIS, MN & ST. LOUIS, MO - SuperValu and Schnuck Markets have announced a new deal, in which the former has agreed to sell 19 of its 36 Shop ‘n Save stores to the latter. By the end of October, each of the 19 stores, many of which are located in the St. Louis, MO, market, will be closed and ready to make their Schnucks-owned debut. As part of the acquisition, Schnucks has agreed to allow SuperValu to serve as the primary supplier for nine of its existing stores located across northern Illinois, Iowa, and Wisconsin.
“Since announcing plans to pursue the sale of our Shop ‘n Save banner earlier this Spring, the team has worked diligently and successfully to put this agreement together,” said Mark Gross, SuperValu’s President and CEO. “This transaction is an important step in the continued transformation of our business. Schnucks is an excellent retailer in the St. Louis area, and we’re pleased that these stores will become a part of their operation, including continuing to serve the communities and providing jobs to many of our employees.”
After this acquisition, 17 Shop ‘n Save stores will remain, however, SuperValu noted that if an additional buyer or buyers cannot be found “in the near term,” the stores will be closed later this year. SuperValu’s St. Louis Distribution Center is also expected to close later this year, as it predominantly serves Shop ‘n Save stores.
A complete list of stores, pharmacies, and fuel centers to be sold to Schnucks under this agreement can be found here.