MINNEAPOLIS -- Supervalu here said last week it will acquire 29 supermarkets owned by Randall Stores, Mitchell, S.D., for an undisclosed amount of cash.
ores are spread over eight mostly Midwestern states and operate under a variety of banners: 10 Cub Foods stores in Illinois, Iowa, Minnesota, Missouri, Nebraska and Wisconsin; six Randall's Foods stores in Iowa, South Dakota and Wisconsin; two County Markets in Minnesota and Wisconsin; two Supervalu stores in Iowa and Nebraska; two Randall Valu Centers in Minnesota; and seven Save-A-Lot limited-assortment stores in Iowa, Kentucky, Missouri and Nebraska. Supervalu said all stores would remain in operation, with no changes in employment anticipated.
According to Ron Randall, president and chief executive officer of Randall, "This combination represents a logical step for our two organizations. Given the size and scope of Supervalu's retail operations, we believe this combination gives us the ability to grow faster and thereby expand career opportunities for our associates."
Mike Wright, chairman and CEO of Supervalu, said the proposed Randall acquisition "is a further step in our continuing move to expand Supervalu's retail food operations, as it creates ownership in markets where we currently do not own stores."
Prior to the proposed Randall acquisition, Supervalu owned 334 stores, most of which operate under the names Cub Foods, Shop 'n Save, biggs, Scott's Food, Save-A-Lot, Laneco and Hornbachers. Cub and Save-A-Lot also have franchised and licensed stores, respectively.