Grocery Chain Supervalu Pressured By Activist Investor To Sell Stores
by Lauren Thomas, CNBC
Posted: 2017-10-26 15:54:30 EST

In the aftermath of Amazon buying Whole Foods, Minnesota-based grocery chain Supervalu is facing escalating pressure from an activist investor.

Blackwells Capital, which owns a little less than 4 percent of Supervalu's common stock and is one of the company's 10 largest shareholders, issued a letter Thursday morning calling out a "lack of clear steps" at the

Jason Aintabi, a managing partner at Blackwells, said he's especially "frustrated" with Supervalu's dismal share performance of late. Ten years ago, the grocer's stock was trading above $320 a share. On Wednesday, shares closed below $16 apiece, and are down more than 50 percent in 2017.

To read the rest of the story, please go to: CNBC