Supervalu sets stage for realignment

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MINNEAPOLIS — Supervalu Inc. said it is proposing a plan to transform itself into a holding company.

According to a preliminary proxy statement/prospectus filed with the Securities and Exchange Commission, the change in corporate structure would further separate Supervalu’s wholesale and retail operations “in an operationally efficient and strategic manner.” It would also facilitate the sale of certain retail assets to third parties as part of the company’s previously announced strategic transformation plan, reduce tax liabilities associated with that plan, and give the company more strategic and financial flexibility.

“We have been executing a strategic transformation of our business over the last two years to become the wholesale supplier of choice for grocery retailers across the United States, while also executing initiatives to deliver long-term stockholder value,” Supervalu president and chief executive officer Mark Gross said in a statement. “The proposed holding company structure is another significant and important undertaking by our team that would support and advance our transformation by further separating our wholesale and retail operations in a tax-efficient manner.”



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