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SuperValu Sells WinCo Foods Stake

EDEN PRAIRIE, MN-The food wholesaler and retailer says it will take an after-tax gain of $150 million on the sale. Employee-owned WinCo, with 43 stores in the Northwest, is the purchaser.

By Jim McCartney | Updated on April 09, 2004

EDEN PRAIRIE, MN-SuperValu Inc. recently completed the sale of its minority ownership interest in WinCo Foods, Inc., a privately held regional grocery chain that operates stores in Idaho, Oregon, Nevada, Washington and California. The food wholesaler and retailer expects to receive after-tax proceeds of about $150 million on the sale.

SuperValu plans to use the proceeds from the sale of its interest in WinCo to reduce debt. The sale will likely increase SuperValu’s fiscal 2005 net earnings by about $0.40 per share.

SuperValu sold its interest back to WinCo for an undisclosed price.

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