UNFI Seeks Buyer for Cub Foods
MINNEAPOLIS, MN - At the end of October, UNFI completed its $2.9 billion acquisition of SuperValu, but it has not yet solved a problem that plagued SuperValu for years. The problem, of course, revolves around the fate of Cub Foods, for the retailer remains buyer-less.
Anne Dament, Executive Vice President, Retail, Marketing, and Private Brands, SuperValu, runs the Cub Foods Chain, and she told The Star Tribune that there were no plans to close Cub Foods, but that the grocery chain was hoping to find a single-buyer.
The Minneapolis/St.Paul Business Journal reported that Cub Foods may have better luck in the form of a local buyer looking to expand in the area. One such option would be Hy-Vee, which the news source reported has already taken over a Cub Foods location in Plymouth. However, Hy-Vee might not be interested.
“We’re going to stay on a steady growth plan that’s manageable,” Hy-Vee CEO Randy Edeker told The Star Tribune.
So, what’s next for Cub Foods? Rumors surfaced in August that Kroger might be a potential buyer, with analysts citing the strategic value of such an acquisition. Whether or not Kroger will snatch up Cub Foods remains to be seen, and we here at ANUK will continue to report the latest.
