Minneapolis, Minnesota-headquartered SuperValu has completed the purchase of Associated Grocers of Florida, Inc. (AG) in a transaction valued at approximately $193 million. This marks its second acquisition of 2017, as the company continues to strategically invest in the United States wholesale food business.
“The addition of Associated Grocers of Florida is another important step on our journey to becoming the wholesaler of choice for grocery retailers,” said Mark Gross, president and ceo of SuperValu. “AG 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 its customers in territories that include the Caribbean and Central and South America.”
He continued: “Christopher Miller, AG’s former president, will continue with us in a similar role as president of SuperValu Florida going forward. 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.”
SuperValu is one of the largest grocery wholesalers and retailers in the USA, employing approximately 31,000 people and ringing up sales of approximately $16 billion per annum – not including AG’s annual receipts of about $650 million. It caters to customers across the nation through a network of 3,337 stores composed of 3,120 units operated by wholesalers serviced primarily by SuperValu’s food distribution business, and 217 traditional retail grocery stores operated under five retail banners in six geographic regions.