WINCO TO ACQUIRE SUPERVALU'S MINORITY INTEREST
id it has agreed to sell its minority stake in WinCo Foods here back to the company. The total transaction price was not disclosed, but Supervalu said it would net $150 million after taxes from the transaction and would realize a net gain of 40 cents per share in fiscal 2005. It said it would use the proceeds to pay down debt. Supervalu told SN it owned less than 30% of WinCo. WinCo, which operates about 40 stores in the Pacific Northwest, could not be reached for comment.
KROGER SHAREHOLDERS TO VOTE ON CHAIRMAN-CEO SPLIT
CINCINNATI -- Shareholders of Kroger Co. here will vote on a proposal by a pension fund to separate the company's chairman and chief executive officer roles. David Dillon, CEO, is set to assume the additional role of chairman at the company's annual meeting in June, when Joseph Pichler is expected to retire. Representatives from the United Association S&P 500 Index Fund, which reportedly owns about 48,000 Kroger shares, could not be reached for comment. Kroger declined to comment. According to reports, the fund is seeking to make the board more autonomous.
FARMER JACK CONVERTS 10 STORES TO FOOD BASICS
DETROIT -- Farmer Jack here, a division of A&P, Montvale, N.J., last week had a simultaneous grand opening promotion for 10 Food Basics supermarkets. The price-impact stores offered discounted electronics -- DVD players for $15 and TVs for $40 -- as part of the opening-day marketing promotions. All the stores previously had been Farmer Jacks.
SHEFFIELD WINS IGA AWARD FOR INTERNATIONAL WORK
FORT LAUDERDALE, FLA. -- IGA presented the J. Frank Grimes Award here last month to Karl Sheffield, a former wholesale executive who was instrumental in IGA's move to expand its operations overseas. Sheffield received the award, named for IGA's founder, during the IGA Global Summit here. Sheffield, former senior vice president for Fleming Cos., Dallas, left Fleming in 1988 to become a consultant, working primarily on behalf of IGA in Japan, South Korea, Australia, India, China and Brazil.
ALBERTSONS' ACME MARKETS ADDS ONLINE SHOPPING
PHILADELPHIA -- Acme Markets, through its parent company Albertsons, Boise, Idaho, began offering online grocery shopping here and in the surrounding suburbs last week. Shoppers are charged $4.95 for orders picked up at the store and $9.95 for orders delivered to customers in five counties.
COMMUNITY PRIDE OPERATOR MULLING OVER SALE
RICHMOND, VA. -- Johnny Johnson's Marketplace Holdings here, a four-store operator known for its efforts to reach minority consumers in urban markets, is struggling financially and may be looking to sell its stores, according to reports. The company sold one of its Community Pride stores to Ukrop's Super Markets, also based here, last year.
