Supervalu completed its previously announced acquisition of Associated Grocers of Florida in a transaction valued at approximately $193 million. Associated Grocers of Florida, with its annual sales of approximately $650 million in its last fiscal year, estimated under Supervalu’s accounting policies, is a dynamic asset that will help the grocery giant access the Latino and Hispanic markets.
This is Supervalu’s second completed acquisition in 2017. In June 2017, the company completed its acquisition of Unified Grocers for a reported $390 million.
“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, Supervalu’s President and CEO. “AG of Florida 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 AG’s customers in territories that include the Caribbean, and Central and South America,” Gross added.
Christopher Miller, AG’s former president, will continue with Supervalu as president of Supervalu Florida going forward.