United Natural Foods Inc. is set to buy Supervalu Inc. for about $2.9 billion.
United Natural Foods, a distributor of natural and organic foods to several grocery chains including Amazon’s Whole Foods Market, has offered $32.50 a share in cash for Supervalu. The per-share acquisition price is at 67% premium to Supervalu’s closing price on Wednesday.
Largely a grocery wholesaler, Supervalu supplies its products to more than 1,800 stores and operates in around 200 locations. United Natural Foods currently distributes more than 110,000 products to more than 43,000 customer locations - the acquisition can be expected to bolster its market network even more.