Supervalu completes acquisition of Associated Grocers of Florida
Supervalu has completed the previously announced acquisition of Associated Grocers of Florida, in a transaction valued at approximately $193 million. This marks the second completed acquisition for Minneapolis-based Supervalu whose national distribution center continues to expand with annual sales of approximately $560 million reported in its last fiscal year.
The Associated Grocers of Florida which was founded in 1945, supplies full lines of groceries and general merchandise to independent retailers and regional chains throughout Florida, Central America, South America and the Caribbean.
“The addition of Associated Grocers of Florida is another important step on our journey to becoming the wholesaler of choice for grocery retailers,” Mark Gross, Supervalu’s president and chief executive officer, said. “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,” Gross said.
The Associated Grocers of Florida which was founded in 1945, supplies full lines of groceries and general merchandise to independent retailers and regional chains throughout Florida, Central America, South America and the Caribbean.
“The addition of Associated Grocers of Florida is another important step on our journey to becoming the wholesaler of choice for grocery retailers,” Mark Gross, Supervalu’s president and chief executive officer, said. “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,” Gross said.