Minneapolis-based SUPERVALU, one of the largest companies in the US grocery channel, has completed its acquisition of Deal$ – Nothing Over a Dollar, a general merchandise retailer specialising in single price point merchandise.
At closing, St. Louis-based Deal$ operated 53 stores across eight Midwestern states, supported by one primary distribution center in Illinois.
Jeff Noddle, SUPERVALU president and CEO said: “We are excited to introduce a general merchandise strategy into our breakthrough grocery format Save-A-Lot through the acquisition of Deal$. By following the same disciplined approach that secured Save-A-Lot’s leadership position, we can positively influence the growth of our extreme value retail business over the long term.”
Save-A-Lot’s entire store network will expand by approximately 150 stores in fiscal 2003 representing approximately 100 new Save-A-Lot’s and the addition of the Deal$ store base. The acquisition is included in SUPERVALU’s previously announced capital spending plan of US$500-US$525m and is expected to be earnings neutral in fiscal 2003.
As of 23 February 2002, SUPERVALU’s retail store network consisted of 1,260 stores in 39 states.
Go deeper with GlobalData
