Supervalu Inc has entered into a stock purchase agreement for the sale of Total Logistic Control (TLC), a wholly owned subsidiary that provides logistics and supply chain management systems to manage distribution, warehousing, and transportation operations for food, beverage and consumer packaged goods companies.
Subject to closing conditions and regulatory approvals, the sale is expected to close December 31, 2010. TLC will be purchased by Ryder Integrated Logistics Inc, the supply chain services division of Ryder System Inc, a Fortune 500 provider of integrated logistics and transportation systems. Ryder intends to retain the current TLC management and associate base, which will continue to serve clients without disruption.
“TLC has been a strong and growing part of our supply chain services organization,” said Janel Haugarth, Supervalu executive vice-president and president and chief operating officer, supply chain services. “Today’s announced acquisition of TLC by Ryder positions TLC to become part of a company that will take them to the next level of expansion and growth in their field of expertise servicing CPG companies.”
Further detail regarding terms of the agreement are not being disclosed yet.
With estimated annual sales of $38 billion, Supervalu serves customers across the United States through a network of about 4,280 stores composed of around 1,160 traditional retail stores. The company has approximately 150,000 employees.
For more information, visit www.supervalu.com.
