Supervalu Agrees to Sell 107 Fuel Centers
Sep 8, 2011 10:22 AM, By Elliot Zweibach, Supermarket News Reporter
Supervalu said Wednesday it is selling 107 of its 134 fuel centers to four separate buyers.
Supervalu said the sales will allow it to monetize non-core assets, creating capital the company can use to further strengthen its business. The transactions, expected to close in the fall, include partnership opportunities that will enable Supervalu to continue to have the ability to offer fuel rewards programs at existing fuel centers and through an expanded network of fuel centers.
The buyers are as follows:
Tesoro Corp., San Antonio, which will purhcase 51 Albertsons fuel centers in California, Nevada, Oregon, Utah, Washington, Wyoming and Idaho.
Alimentation Couche-Tard, Laval, Quebec, and its Circle K stores, which will purchase 27 Jewel-Osco fuel centers, primarily in the Greater Chicago area.
Holiday Stationstores, Brainerd, Minn., which will purchase 15 fuel centers — eight from Cub Foods in Minnesota, two from Hombacher's in North Dakota and five from Albertsons in Montana.
Stinker Stores, Boise, Idaho, which will purchase 14 fuel centers from Albertsons in Southern Idaho.
Read more at Supermarket News.
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