Supervalu to sell 107 fuel centers
EDEN PRAIRIE, Minn. — Supervalu has announced the sale of 107 fuel centers located in the Midwest, Intermountain West and West Coast regions following the acceptance of four separate bids to purchase the centers. The transactions include the majority of fuel centers within the Albertsons, Cub Foods, Hornbacher’s and Jewel-Osco banners.
The transactions, expected to be finalized this fall, will allow Supervalu to monetize noncore assets, creating capital that the company can use to further strengthen its business, the company reported. The transactions also include partnership opportunities that will result in Supervalu continuing to have the ability to offer fuel rewards programs to its customers through these existing fuel centers, and in most markets, through an expanded network of fuel centers.
“As we execute on our strategic plan, we are continually reviewing all areas of our business to identify opportunities to strengthen our market position, reduce costs or generate capital that can be reinvested into the business,” Supervalu EVP retail operations Pete Van Helden said. “These transactions help us further execute on our transformation plan, while also creating an opportunity for us to partner with major fuel retailers to bring broader fuel rewards programs to our customers.”
Specific transaction details are as follows:
Tesoro will purchase 51 Albertsons fuel centers located in California, Nevada, Oregon, Utah, Washington, Wyoming and Idaho;
Couche-Tard/Circle K will purchase 27 Jewel-Osco fuel centers, primarily in the Chicagoland area;
Holiday Stationstores will purchase 15 fuel centers — eight from Cub Foods in Minnesota, two from Hornbacher’s in North Dakota and five from Albertsons in Montana; and
Stinker will purchase 14 Albertsons fuel centers in Southern Idaho.
Supervalu currently operates a total of 134 fuel centers across its operations. The company will continue to operate 27 fuel centers not involved in these transactions, while continuing to seek potential buyers moving forward.