Minneapolis-Based SUPERVALU to Acquire 29 Stores of Randall Stores Inc., Mitchell, SD-Based Retailer.
MINNEAPOLIS, Oct. 22 /PRNewswire/ -- SUPERVALU INC. (NYSE NYSE
See: New York Stock Exchange : SVU) and Randall Stores, Inc., today announced that SUPERVALU will acquire the 29 supermarkets owned by Randall's in a purchase of the stock of Randall Stores, Inc. for cash. Included in the transaction, which is expected to be completed in early 1999, are ten Cub Foods stores in Illinois, Iowa, Minnesota, Missouri, Nebraska, and Wisconsin; six Randall Foods stores in Iowa, South Dakota and Wisconsin; two County Market stores in Minnesota and Wisconsin; two SUPERVALU stores in Iowa and Nebraska; seven Save-A-Lot limited assortment stores in Iowa, Kentucky, Missouri and Nebraska; and two Randall Valu Centers in Minnesota.
"This combination represents a logical step for our two organizations," said Ron Randall, president and CEO of the Mitchell, S.D. based food retailer. "SUPERVALU has been our supplier since my late father, F. Dwain 'Doc' Randall opened our first store in Flandreau, S.D. in 1950. Given the size and scope of SUPERVALU's retail operations, we believe that this combination gives us the ability to grow faster and thereby expand career opportunities for our associates." The approximately 3,000 store employees of Randall's were informed of the pending transaction today at store meetings.
"We at SUPERVALU are delighted with this merger. Randall's is an outstanding retailer and has been one of our largest and best customers for nearly 50 years," said Mike Wright, chairman and CEO of Minneapolis-based SUPERVALU. "Randall's has a talented management team and terrific store associates. In addition to gaining a great group of associates, this acquisition is a further step in our continuing move to expand SUPERVALU's retail food operations, as it creates ownership in markets where we currently do not own stores."
Wright explained that all the stores will remain in operation and no changes in employment are anticipated at the store level.
The transaction is subject to Federal Trade Commission and other approvals. Terms of the transaction were not disclosed.
SUPERVALU is the nation's leading food distribution company and the twelfth largest food retailer, with annual sales of $17.2 billion at the end of February 1998. As of its most recent quarter-end on September 12, 1998, SUPERVALU owned 334 stores, principally under the following banners: Cub Foods, Shop 'n Save, bigg's, Scott's Foods, Save-A-Lot, Laneco and Hornbachers. Cub Foods and Save-A-Lot also have franchised and licensed stores respectively. In total, SUPERVALU supplies some 5,100 stores in 48 states. Mitchell, S.D. based Randall's is a privately-owned retailer with 29 food stores in Illinois, Iowa, Minnesota, Missouri, Nebraska, South Dakota and Wisconsin.
(see attached list of Randall Stores)
Randall Stores, Inc.
Total: 29 Stores in 8 States
Illinois, Iowa, Kentucky, Minnesota, Missouri, Nebraska, South Dakota, Wisconsin
10 Cub Foods Stores
Eau Claire, Wisconsin Eau Claire is a city located in west-central Wisconsin. The population was 61,704 at the 2000 census. It is the county seat of Eau Claire CountyGR6, although a small portion of the city lies in neighboring Chippewa County.
Iowa City, Iowa Iowa City is a city in Johnson County, Iowa, United States. It is the principal city of the Iowa City, Iowa Metropolitan Statistical Area which encompasses Johnson and Washington counties.
St. Joseph, Missouri
Sioux City, Iowa <noinclude></noinclude>
Sioux City (IPA: [su: 'sɪti]) is a city located in northwest Iowa in the United States. As of the 2000 census, the city had a total population of 85,013. (2 stores)
6 Randall Foods Stores
Cedar Rapids, Iowa
Eau Claire, Wisconsin
Ft. Dodge, Iowa
Huron, South Dakota Huron is a city in Beadle County, South Dakota, USA. The population was 11,893 at the 2000 census. It is the county seat of Beadle CountyGR6. Huron was the home of now-defunct Huron University since 1897.
Mitchell, South Dakota
Sioux Falls, South Dakota Sioux Falls (IPA: [su fɑlz]) is the largest city in the U.S. state of South Dakota, and the county seat of Minnehaha County.GR6 The 2007 city population is 148,000.
7 Save-A-Lot Stores
Kansas City, Missouri (2 stores)
Lexington, Kentucky (2 stores)
St. Joseph, Missouri
Sioux City, Iowa
2 Randall Valu Center Stores
New Ulm, Minnesota
2 SUPERVALU Stores
Sioux City, Iowa
South Sioux City, Nebraska South Sioux City is a city in Dakota County, Nebraska, in the United States. It is part of the Sioux City/Iowa/Nebraska/South Dakota Metropolitan Statistical Area. As of the 2000 census, the city population was 11,925.
2 County Market Stores