Supervalu has completed the previously announced acquisition of Associated Grocers of Florida, Inc. in a transaction valued at approximately $193 million.
Associated Grocers of Florida adds a new grocery wholesaler to Supervalu’s growing national distribution network with annual sales of approximately $650 million in its last fiscal year, according to the company. The acquisition marks the second completed acquisition this year for Supervalu as the company continues to strategically 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 customers in territories that include the Caribbean, and Central and South America.”
Gross added, “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. 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.”