Supervalu Inc.’s purchase of a leading Florida wholesaler is official, with the final selling price higher than first estimated.
The Minneapolis-based wholesale and retail grocery giant bought Pompano Beach-based Associated Grocers of Florida for $193 million, higher than the $180 million estimated when the deal was first announced in October.
Associated Grocers is a retailer-owned cooperative that distributes full lines of grocery and general merchandise to independent retailers, primarily in South Florida, the Caribbean, Central and South America and Asia. During Associated Grocers' last fiscal year ended July 29, the company’s revenues were approximately $650 million.
The Associated purchase is the second major wholesale acquisition for Supervalu in 2017. In June, the company bought Unified Grocers Inc. for $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,” Mark Gross, Supervalu’s president and CEO, says.