The $375 million merger set to close this summer

MINNEAPOLIS, Minn.  — Supervalu Inc. has agreed to acquire Unified Grocers, a retailer-owned wholesale grocery distributor that supplies independent retailers throughout the western United States.

The $375 million deal (including about $114 million in cash and the assumption of Unified Grocers’ debt) will bring together two highly complementary grocery wholesale organizations with combined sales of approximately $16 billion in 2016, according to the companies.

The transaction is expected to close in mid-to-late summer 2017, at which point Unified Grocers will be a wholly-owned subsidiary of Supervalu.

“We’re thrilled at the opportunity to bring together these two great organizations,” Supervalu president and chief executive officer Mark Gross said in a statement. “By acquiring the Unified business, including gaining a wealth of expertise and talent, we will become a stronger and more efficient organization. The transaction will enhance our ability to help our customers better compete in the evolving grocery industry. We’re also excited to serve Unified’s dynamic retailer base.

“Unified’s Members and customers operate some of the country’s most exciting and progressive Hispanic and multiple other ethnic formats, specialty, gourmet, natural/organic, price impact and traditional stores. They complement our existing customer base and we look forward to facilitating collaboration and innovation across such an impressive collection of creative merchants.”

Together, Supervalu and Unified operate 24 distribution centers and serve a combined customer base of over 3,000 stores in 46 states.