Last updated on March 25th, 2021 at 07:23 pm
At a special meeting of stockholders held Oct. 18, stockholders of Supervalu Inc. approved the proposed acquisition of Supervalu by United Natural Foods Inc. (UNFI).
It was announced in July that UNFI and Supervalu had entered into a definitive agreement under which UNFI would acquire Supervalu for $32.50 per share in cash, or approximately $2.9 billion, including the assumption of outstanding debt and liabilities.
Update:
UNFI Completes Acquisition Of Supervalu, Reveals Leadership Team
At the October meeting, nearly 81 percent of the shares of Supervalu common stock outstanding and entitled to vote adopted the previously announced merger agreement among Supervalu, UNFI, Supervalu Enterprises Inc. and Jedi Merger Sub Inc., a direct, wholly owned subsidiary of UNFI. These shares represent nearly 98 percent of the shares voted at the special meeting.
The transaction remains subject to customary closing conditions, but Supervalu expects the transaction to close on Oct. 22.
Supervalu is one of the largest grocery wholesalers and retailers in the U.S., with annual sales of approximately $15 billion. The company serves customers across the country through a network of 3,606 stores composed of 3,495 wholesale primary stores operated by customers serviced by Supervalu’s food distribution business and 111 traditional retail grocery stores in continuing operations operated under three retail banners in three geographic regions. Headquartered in Minnesota, Supervalu has approximately 23,000 employees.
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