Shoppers Food & Pharmacy Up for Sale
United Natural Foods Inc. (UNFI) is continuing its plans to divest the retail banners that came with its purchase of Supervalu Inc. last year.
UNFI is “well down the path on selling Shoppers, and I’m confident we’ll get that done in the coming months,” CEO Steve Spinner said during a March 5 earnings call, the Sun reported.
Layoffs at Shoppers nearly a year ago triggered fears that the banner would soon be up for sale.
No information was revealed on the earnings call as to who a potential buyer could be or when a sale might be completed, the Sun reported.
Materials filed along with the earnings report indicate that the sale is part of a plan to sell Shoppers as well as the Minnesota-based Cub Foods chain, according to the Sun report.