MINNEAPOLIS — SUPERVALU (NYSE: SVU) today announced its plans to sell all Connecticut Shaws stores. The company has reached agreements with Wakefern for the sale of 11 Shaws stores to individual owners, and with Stop & Shop for the sale of five Shaws stores. These transactions are expected to close in Spring 2010. The company continues to seek buyers for its two additional stores in Connecticut.
While these decisions are always difficult, given the impact on associates and customers, they ultimately allow us to operate more efficiently and effectively within a highly competitive retail environment, said Pete Van Helden, SUPERVALU executive vice president of retail operations.
Shaws continues to operate 176 stores in five New England states.
SUPERVALU was advised by William Blair & Company, LLC relating to this transaction.
Source: Supervalu Inc.