Cub Foods' owner Supervalu to be bought in $3 billion deal

The new owner is United Natural Foods.
Publish date:

Eden Prairie-based Supervalu, which owns companies including Cub Foods, is being bought in a $2.9 billion deal announced Wednesday.

The buyer is Rhode Island-based United Natural Foods, an organic and natural foods distributor, which will pay $32.50 per Supervalu share in cash and assume Supervalu's outstanding debt.

The newly-combined company will be led by UNFI CEO Steven Spinner.

And in a conference call, UNFI said that over time it would be selling Supervalu's retail businesses, which includes Cub Foods and Shop 'N Save.

These assets will be sold "in a thoughtful and economic manner," it added in the press release.

Supervalu, one of Minnesota's Fortune 500 companies, is the 5th largest food retailing company in the U.S. and employs 23,000 workers.

It counts more than 75 Cub Foods stores, most of them in Minnesota, among the 2,000-plus locations it owns across the U.S.

Find more news on Flipboard.

UNFI said the purchase will accelerate its growth strategy by bringing its organic foods to a wider audience at a time when consumers are demanding healthier, natural food options.

UNFI is the primary supplier for Whole Foods, the upmarket grocery chain owned by Amazon.

Next Up

closed sign

What's open and closed in Minnesota on MLK Day 2021?

Local government offices will generally be closed on Monday.

BMTN 900x450 (8)

Company that falsely promised student loan forgiveness banned from MN

It's also been ordered to repay $11,499 in fees taken from Minnesotans.

covid-19, coronavirus

Here is Minnesota's COVID update for January 15

Hospitalizations are the lowest in Minnesota since October 25.


Osterholm: B117 COVID strain could become major issue in 6-8 weeks

The B117 variant is believed to be more easily transmitted.

General Mills

General Mills halts donations to Republicans who voted to block Biden win

Two Minnesota representatives voted against certification of results in Arizona and Pennsylvania.

overturned semi truck

Winter storm creates whiteout conditions, closing roads and causing crashes

Roads in southwestern Minnesota were closed early Friday, while slippery conditions elsewhere in the state led to crashes and spinouts.


Hennepin Theatre Trust announces 2021-22 Broadway schedule

Health and safety protocols will be in place based on state guidance.

Tim Walz

Walz to hold press conference on MN State Capitol safety concerns

This comes amid ongoing threats to state Capitols across the country.


With new owner planning a sell off, who will buy Cub Foods?

Current owner Supervalu is being bought for almost $3 billion.

Report: Cub Foods owner considering possible sale

Supervalu is assessing its options, according to Bloomberg.

Cub Foods is set to be sold early next year

The grocery chain's parent company is looking to offload the store network.

Cub Foods

Sale of Cub Foods pushed back 2 years

Cub Foods' owner says now is not the right time to sell the stores.

Cub Foods Broadway

Cub Foods commits to rebuilding its 2 riot-damaged Minneapolis stores

It also intends to open temporary stores at both locations to address food insecurity.

Cub Foods asks shoppers to no longer openly carry guns in stores

It's also banning the sale of e-cigs and vaporizers.