SuperValu Inc (NYSE:SVU) and America’s Food Basket (AFB) announced that SuperValu has been chosen by AFB as a grocery wholesaler and supplier.
The parties have entered into a long-term agreement for SuperValu to supply AFB member stores with traditional grocery products across a range of categories including meat, deli, bakery, grocery, fresh produce, frozen foods and dairy.
SuperValu will distribute AFB’s “Ideal Brands” as well as provide AFB stores with the ability to offer SUPERVALU’s private brand products including Essential Everyday, Wild Harvest and Culinary Circle.
AFB, founded in 2007 and headquartered in Lake Success NY, is a regional cooperative serving 47 neighborhood stores located primarily in New York and parts of New England. Its stores range in size from 5,000 to almost 20,000 square feet and deliver a diverse set of products. AFB stores operate under three primary banners: America’s Food Basket, Ideal Food Basket and Superfi Emporium.
SuperValu and AFB expect that a few of the 47 AFB member stores will have transitioned to SuperValu supply before the end of December 2016 with the balance of the remaining stores likely to transition to SuperValu supply during the first quarter of calendar 2017.
SuperValu is one of the largest grocery wholesalers and retailers in the United States. It serves customers through a network of 3,382 stores. Headquartered in Minnesota, SuperValu has approximately 40,000 employees.