USA: SUPERVALU buys general merchandise retailer to boost Save-A-Lot's growth
SUPERVALU, one of the largest firms in the US grocery channel, has reached an agreement to acquire St. Louis-based Deal$ - Nothing Over a Dollar, a 45-store general merchandise retailer specialising in single price point merchandise with current annualized revenues of about US$75m. The acquisition, which is expected to close in May, will accelerate the store expansion plans of SUPERVALU subsidiary Save-A-Lot. It comes as Save-A-Lot celebrates its 1,000th store opening. Save-A-Lot generates systemwide sales in excess of US$4bn and stores in 36 states and over the next few years, it is expected that Save-A-Lot will retrofit its store network to include more general merchandise.
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