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Publix Super Markets Announces Contract to Sell Crispers.

LAKELAND, Fla. -- Publix Super Markets Inc. has entered into a contract to sell Crispers, the fresh salads, soups and sandwiches restaurant company it purchased in February 2007, to Healthy Food Concepts, LLC, an affiliate of a Florida-based investment group.

"For more than 80 years, we have been the grocery retailer of choice for Floridians," said Publix CEO Ed Crenshaw. "This opportunity gives us the ability to continue to be passionately focused on our core business, our customers and the products and services we offer within our grocery retail environment. While we were able to share best practices with Crispers, we recognized that now was the time to refocus our business priorities."

The terms and agreement of the sale are confidential. Healthy Food Concepts, LLC will operate Crispers as a stand-alone business and will retain the management and associates of the restaurants.

Crispers, founded in 1989, operates 36 locations throughout north, central and south Florida. Publix made an equity investment in Crispers in 2002 and then again in 2004 prior to purchasing the fast casual format in 2007 and operating it as a wholly owned subsidiary.

Publix is privately owned and operated by its 147,500 employees, with 2010 sales of $25.1 billion. Currently Publix has 1,034 stores in Florida, Georgia, South Carolina, Alabama and Tennessee. The company has been named one of FORTUNE's "100 Best Companies to Work For in America" for 14 consecutive years. In addition, Publix's dedication to superior quality and customer service is recognized as tops in the grocery business, most recently by an American Customer Satisfaction Index survey. For more information, visit the company's website,
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Comment:Publix Super Markets Announces Contract to Sell Crispers.
Publication:Business Wire
Geographic Code:1U5FL
Date:May 10, 2011
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