Supervalu has completed its acquisition of Unified Grocers in a transaction valued at $390 million.
The purchase is comprised of $114 million in cash to Unified Grocers’ shareholders for all of the outstanding stock of Unified Grocers plus the assumption and pay-off at closing of Unified Grocers’ net debt of approximately $276 million.
The transaction will merge two highly complementary grocery wholesale organizations with combined sales of approximately $16 billion in 2016, the companies noted. Together, Supervalu and Unified operate 24 distribution centers supplying customers in 46 states and serve a combined customer base of more than 3,000 stores.
“The completion of this transaction is a significant step forward for Supervalu and the growth of our wholesale business,” said Mark Gross, Supervalu president and CEO. “Our teams are fully engaged in the important work of integrating these two great organizations with a continued focus on delivering for our customers and stockholders. We’re excited about working with the many talented associates to supply and serve our expanded and highly diverse customer base.”