Shareholders of Supervalu, who under the plan would become owners of the holding company, are expected to vote on the proposal at Supervalu’s annual meeting, a date for which has yet to be announced. Also at that meeting, shareholders are to consider a slate of six director nominees proposed by activist shareholder Blackwells Capital, which has been engaged in a campaign to influence what it said would be initiatives to appreciate the value of its stock, including potential asset sales and a merger with another wholesaler. Winsight is a leading B2B information services company focused on the food and beverage industry, providing insight and market intelligence to business leaders in every channel consumers buy food and beverage – convenience stores, grocery retailing, restaurants and noncommercial foodservice – through media, events, data products, advisory services, and trade shows. Under a plan described in a proxy statement filed late Tuesday, the Minneapolis-based wholesaler proposed that a subsidiary known as Supervalu Enterprises would become the publicly traded parent of its entities through a merger of Supervalu and another subsidiary created for the purpose of effectuating the transaction called Supervalu Merger Sub. The company has insisted these moves are all related to a strategic transformation set in motion by Gross, who took over for Wayne Sales in February 2016. Exclusive industry info and insights straight to your inbox, Your go-to resource for all things grocery, Take a peek at the latest issue of the magazine. Also at that meeting, shareholders are to consider a slate of six director nominees proposed by, Blackwells’ argument is based upon what it said was, historical underperformance of Supervalu stock, Fresh Thyme Names Former Kroger, Aldi Exec as VP of Operations, Q&A With Southeastern Grocers CEO Anthony Hucker, Trader Joe’s Continues New Jersey Expansion, Blue Apron Shakes Up Board as Growth Strategy Continues. You are here: Agreements > > SUPERVALU INC Exh 21 List of Subsidiaries, Title: SUPERVALU INC Exh 21 List of Subsidiaries Date: 4/26/2010 Industry: Retail (Grocery) Sector: Services. Delaware Limited Liability Company : … Copyright © 2020 RPCD Holdings LLC. “The board has previously announced that it intends to seek to sell certain of our retail assets to third parties and focus on the company’s wholesale business,” the proxy statement read. Enterprises of Massachusetts, Inc. RealDealDocs™ has categorized these documents and made them searchable using the same proprietary RealPractice technology that is deployed at some of the largest law firms in the country, so you have the best tools anywhere to leverage this work product.
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SuperValu, Inc. is an American wholesaler and retailer of grocery products. STORES CHARITABLE FOUNDATION, INC. AMERICAN
It is a wholly owned subsidiary of UNFI. The company has insisted these moves are all related to a strategic transformation set in motion by Gross, who took over for Wayne Sales in February 2016. Do not sell my personal infoPrivacy PolicyContact UsRSS, Supervalu Proposes New Corporate Structure, Shareholders to consider transforming to a holding company; deal would facilitate asset sales, Following the merger, Supervalu Enterprises would change its name to Supervalu Inc., while the current company, the holder of its wholesale and retail assets. Supervalu has also executed a sale-leaseback deal to monetize eight of its warehouses, generating $483 million. Supervalu Inc Exh 21 List Of Subsidiaries - This Sec Exhibit 21 Subsidiaries List Involves Supervalu Inc ALBERTSONS
In its proxy statement, Supervalu said the reorganization would put a timetable on the sale of its retail units in order to realize the potential tax benefits before expiration of a capital loss carryforward in February 2019. The deal would also facilitate previously announced intentions to sell certain retail assets; better segregate liabilities into respective business segments; increase financial flexibility; and provide potential tax benefits of up to $300 million over 15 years. Listen in to WGB’s flagship podcast, 10 Items or Less, featuring insights from retailers and industry professionals.
Supervalu has also executed a sale-leaseback deal to monetize eight of its warehouses, generating $483 million.
The restructuring announcement did not connect the new structure to the proxy fight. The company in April announced it was seeking a buyer for its Shop n’ Save and Shop n’ Save East divisions, and shut down its money-losing Farm Fresh banner, selling about half of those units piecemeal. PROCUREMENT AND LOGISTICS COMPANY LLC. Supervalu has proposed reorganizing itself into a holding company to facilitate the segregation of its wholesale and retail operations and support its ongoing strategic transformation amid ongoing pressure from a dissident shareholder. SUPERVALU INC. Subsidiaries . The company, headquartered in the Minneapolis suburb of Eden Prairie, Minnesota, has been in business since 1926. Butson’s
“However, we may not be able to identify a third party for such a strategic transaction, or any third parties that we do identify may not be willing to agree to terms that are acceptable to us.”. As of February 25, 2006 (All are Subsidiary Corporations 100% Owned Directly or Indirectly, Except as Noted) JURISDICTION. WGB and BrandSpark collaborated for the third annual Most Trusted U.S. Food Retailers market study to identify the retailers that are capturing the highest affinity among shoppers from coast to coast. “The proposed holding company structure is another significant and important undertaking by our team that would support and advance our transformation by further separating our wholesale and retail operations in a tax efficient manner.”. would be a wholly owned subsidiary known as Supervalu Operations. Following the merger, Supervalu Enterprises would change its name to Supervalu Inc., while the current company—the holder of its wholesale and retail assets—would be a wholly owned subsidiary known as Supervalu Operations. Supervalu has resisted the efforts of Blackwells and in its proxy statement June 12 urged shareholders to vote against the Blackwells candidates. OF ORGANIZATION : PERCENTAGE OF VOTING SECURITIES OWNED BY IMMEDIATE PARENT: SUPERVALU INC. The company said the proposal would facilitate its ongoing strategic plan to transform itself behind wholesaling by allowing it to separate its wholesale and retail operations in an “efficient and strategic manner.”, “We have been executing a strategic transformation of our business over the last two years to become the wholesale supplier of choice for grocery retailers across the United States, while also executing initiatives to deliver long-term stockholder value,” Mark Gross, Supervalu’s president and CEO, said in a statement. 50 of the Top 250 law firms use our Products every day. Blackwells first revealed its holdings publicly in October and said late last month it owned about 7.3% of the company’s stock. Shareholders of Supervalu, who under the plan would become owners of the holding company, are expected to vote on the proposal at Supervalu’s annual meeting—a date for which has yet to be announced. Blackwells’ argument is based upon what it said was historical underperformance of Supervalu stock relative to peers, and has derided the current strategic plan as “half-measures.”. Advantage Logistics USA, Inc. Delaware : 100%: Advantage Logistics USA West L.L.C. All Rights Reserved.
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