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Supervalu Inc. has completed the previously announced acquisition of Associated Grocers of Florida Inc. in a transaction valued at approximately $193 million. According to Supervalu, AG of Florida adds a dynamic grocery wholesaler to its growing national distribution network, with annual sales of approximately $650 million in its last fiscal year as estimated under Supervalu’s accounting policies.

This acquisition marks the second completed acquisition of 2017 for Supervalu as the company continues to invest in growing its wholesale business.

“The addition of Associated Grocers of Florida is another important step on our journey to becoming the wholesaler of choice for grocery retailers,” said Mark Gross, Supervalu’s president and CEO. “AG of Florida has a tremendous retailer base across central and south Florida, and we’ll immediately gain a vibrant group of customers as well as an ability to expand internationally with AG’s customers in territories that include the Caribbean, and Central and South America.

“I’m also thrilled that Christopher Miller, AG’s former president, will continue with us in a similar role as president of Supervalu Florida going forward. Chris has built a great team, and we’re very excited that they’re now a part of our Supervalu family. Between the Unified Grocers and AG of Florida acquisitions, we’ve added substantial talent that will help us meet the rapidly changing needs of the markets we serve, including the growing specialty, organic, Latino and Hispanic markets.”

Keep reading:

https://www.theshelbyreport.com/2017/08/22/supervalu-central-grocers-warehouse-2/

https://www.theshelbyreport.com/2017/11/15/healthy-savings-ahold-supervalu/

https://www.theshelbyreport.com/2017/11/14/supervalu-leadership-changes-nov-2017/

 

Alissa was Staff Writer at The Shelby Report.