SUPERVALU Named Grocery Wholesaler By America's Food Basket

SUPERVALU INC. (NYSE:SVU) and America's Food Basket (AFB) today announced that SUPERVALU has been selected by AFB as a grocery wholesaler and supplier. The parties have entered into a long-term agreement for SUPERVALU to supply the AFB member stores with traditional grocery products across a range of categories including meat, deli, bakery, grocery, fresh produce, frozen foods and dairy. SUPERVALU will distribute AFB's "Ideal Brands" as well as provide AFB stores with the ability to offer SUPERVALU's private brand products including Essential Everyday®, Wild Harvest®, and Culinary Circle®.

Founded in 2007 and headquartered in Lake Success, New York, AFB is a regional cooperative serving 47 neighborhood stores located primarily in New York and parts of New England. AFB stores range in size from 5,000 to almost 20,000 square feet and deliver a diverse set of products to meet the needs of their local communities and customers. AFB stores operate under three primary banners: America's Food Basket, Ideal Food Basket and Superfi Emporium.

"America's Food Basket is a terrific regional co-op that delivers a great neighborhood grocery experience for its customers," said Mike Stigers, Executive Vice President of SUPERVALU's Wholesale business. "Our plans to continue to grow SUPERVALU's wholesale business took another step forward today with the addition of America's Food Basket."

SUPERVALU and AFB expect that a few of the 47 AFB member stores will have transitioned to SUPERVALU supply before the end of December 2016 with the balance of the remaining stores likely to transition to SUPERVALU supply during the first quarter of calendar 2017.

"America's Food Basket is moving into our fourth year of growth while at the same time seeking opportunities to build our business by exploring new avenues for operational excellence," said Dan Cabassa, CEO, America's Food Basket. "We're pleased to announce this relationship with SUPERVALU as we believe it will help us deliver a great offering for our shoppers."

If you liked this article you might like

Albertsons-Plated Deal Likely 'First Domino to Fall' In Meal Kit M&A