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SVU

Supervalu

$3.79

0.07 (1.88%)

17:37
04/10/17
04/10
17:37
04/10/17
17:37

Supervalu to acquire Unified Grocers in roughly $375M transaction

Supervalu and Unified Grocers announced that they have entered into a definitive merger agreement for SUPERVALU to acquire Unified Grocers in a transaction valued at approximately $375M, comprised of approximately $114M in cash for 100% of the outstanding stock of Unified Grocers plus the assumption and pay-off of Unified Grocers' net debt at closing. This transaction will bring together two highly complementary grocery wholesale organizations with combined sales of approximately $16B in 2016. Together, SUPERVALU and Unified operate 24 distribution centers supplying customers in 46 states and serve a combined customer base of over 3,000 stores. The combined company will be uniquely positioned to efficiently serve a broad range of independent customers and offer a diverse array of value added services, helping customers compete in an increasingly demanding grocery environment. The acquisition also provides new growth opportunities across multiple geographies, including the expansion of Unified's Market Centre division, a growing business providing specialty and ethnic products to independent customers. The transaction, which was unanimously approved by each company's board of directors, is currently expected to close in mid-to-late summer 2017, subject to approval by Unified's shareholders and other customary closing conditions. Following completion of the merger, Unified Grocers will be a wholly-owned subsidiary of Supervalu. Supervalu expects that by the end of the third year of operations after the completion of the transaction, the combined business will achieve a run rate of at least $60M in cost synergies. These synergies will be primarily derived from utilizing the scale and expertise of the combined company as well as consolidation of select back office functions. To achieve these synergies, Supervalu expects to incur transition and integration costs of up to $60M within the first two years following the completion of the transaction. The transaction is expected to be accretive to earnings per share, excluding the transition and integration costs as well as potential purchase accounting adjustments, in the first full fiscal year following closing which begins on February 25, 2018.

SVU Supervalu
$3.79

0.07 (1.88%)

07/06/16
DBAB
07/06/16
NO CHANGE
Target $6
DBAB
Hold
Deutsche calls Marsh deal a 'nice win' for Supervalu
Deutsche Bank analyst Shane Higgins views the long-term supply agreement with Marsh Supermarkets as a "nice win" for Supervalu. The news is timely with Supervalu preparing for the separation of Save-A-Lot, Higgins tells investors in a research note. The analyst keeps a Hold rating on the shares, however, citing the "headwinds still facing the business."
10/10/16
OPCO
10/10/16
NO CHANGE
OPCO
Wal-Mart 'starting to get its act together' in grocery, says Oppenheimer
After attending Wal-Mart's (WMT) analyst day meeting, Oppenheimer analyst Rupesh Parikh admitted he did not previously look favorably upon the company's strategy to expand into Neighborhood Market and smaller format stores, but he now sees signs that the company is "starting to get its act together in grocery." If Wal-Mart follows through with grocery price investments, it could hurt Kroger (KR), Smart & Final Stores (SFS) and Supervalu (SVU) and be an "indirect negative" for Sprouts Farmers Markets (SFM), Parikh tells investors. However, he also added that he remains confident in the ability of Kroger's management team to at least hold share.
03/23/17
RBCM
03/23/17
UPGRADE
RBCM
Outperform
Supervalu upgraded to Outperform from Sector Perform at RBC Capital
03/23/17
RBCM
03/23/17
UPGRADE
RBCM
Outperform
Supervalu upgraded on positive catalysts at RBC Capital
As noted earlier, RBc Capital upgraded Supervalu to Outperform from Sector Perform with a $6 price target. Analyst William Kirk expects the company to benefit from food reflation and he thinks that investors are not giving the comapny enough credit for the customer wins of its retail unit. Additionally, he thinks that its real estate portfolio can generate value for shareholders.

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TM

Toyota

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, KBSTY

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CBOE

Cboe Global Markets

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BTC

Bitcoin

BITCOIN

Bitcoin

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  • 09

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GWRE

Guidewire

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AAPL

Apple

$179.10

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OBE

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SN

Sanchez Energy

$5.81

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  • 15

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SN

Sanchez Energy

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NTDOY

Nintendo

$51.53

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  • 17

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PTC

PTC

$66.70

1.41 (2.16%)

, ESIO

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$22.01

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BTU

Peabody Energy

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MLNX

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APHB

AmpliPhi

$1.12

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JNJ

Johnson & Johnson

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EVEP

EV Energy

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HBM

Hudbay Minerals

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SFE

Safeguard Scientifics

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MSI

Motorola Solutions

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  • 20

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ERIE

Erie Indemnity

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AAPL

Apple

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  • 01

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SLM

Sallie Mae

$11.49

0.02 (0.17%)

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  • 18

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