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06/02/2006 Entry: "SUPERVALU Closes Acquisition of Premier Retail Properties of Albertson's"

My workload will continue to be intense!

MINNEAPOLIS--(BUSINESS WIRE)--June 2, 2006--SUPERVALU INC. (NYSE:SVU) today announced that it has completed the merger to acquire the premier retail properties of Albertson's, Inc., which include the operations of Acme Markets, Bristol Farms, Jewel, Shaw's Supermarkets, Star Markets, and Albertsons banner stores in the Intermountain West, Northwest and Southern California regions. SUPERVALU has also acquired the related in-store pharmacies under the Osco Drug and Sav-on banners. As a result of the acquisition, which totals more than 1,100 stores, the new SUPERVALU becomes the nation's third-largest supermarket chain by revenues.

"Today, SUPERVALU begins a new era with significant momentum as a national retail powerhouse. This transformational transaction creates a company with some of the nation's most prestigious supermarket banners, a network of approximately 2,500 store locations in many of the best geographies - with leading shares in several major markets - and a massive supply chain to fuel both our own retail operations and serve our valued independent retail customers better than anyone else can," said Jeff Noddle, SUPERVALU chairman and chief executive officer. "Today, we are a stronger retailer that's well-positioned for the future."

Replies: 2 comments

But you're never in the office...

Posted by Jim @ 06/03/2006 10:02 PM CST

"My workload will continue to be intense!"

You think you'll continue to have a job?

Posted by John D @ 06/02/2006 01:19 PM CST

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