Supervalu to sell Connecticut Shaw's stores

Supervalu Inc plans to sell all Shaw’s grocery stores in Connecticut. The company reached agreements with Wakefern for the sale of 11 Shaw’s stores to individual owners, and with Stop & Shop for the sale of five Shaw’s stores. These transactions are expected to close in spring 2010. The company is still seeking buyers for its two other stores in Connecticut.

“While these decisions are always difficult, given the impact on associates and customers, they ultimately allow us to operate more efficiently and effectively within a highly competitive retail environment,” said Pete Van Helden, Supervalu executive vice-president of retail operations.

Shaw’s continues to operate 176 stores in five New England states.

Supervalu was advised by William Blair & Company LLC on this transaction.

One of the largest companies in the US grocery channel with annual sales of around $41 billion, Supervalu has a network of about 4,290 stores and approximately 170,000 employees.