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Supervalu surges after deal to sell Farm Fresh stores for $43M

Mar. 14, 2018 10:29 PM ETSUPERVALU Inc. (SVU) StockBy: Carl Surran, SA News Editor16 Comments
  • Supervalu (NYSE:SVU) +8.5% after-hours on news it agrees to sell 21 of its Farm Fresh Food & Pharmacy stores to three other grocery chains for $43M.
  • SVU says 10 stores will be sold to Harris Teeter, eight to Kroger and three to Food Lion, and is in discussions to sell the remaining 17 Farm Fresh stores.
  • SVU says exiting Farm Fresh will help it focus on the strategic growth of the wholesale business.

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