UNFI To Acquire SUPERVALU In Approx. $2.9 Bln Deal - Quick Facts

(RTTNews) - United Natural Foods, Inc. (UNFI) and SUPERVALU INC. (SVU) announced that they have entered into a definitive agreement under which UNFI will acquire SUPERVALU for $32.50 per share in cash, or approximately $2.9 billion, including the assumption of outstanding debt and liabilities.

Through the combination, UNFI will be positioned to realize run rate cost synergies of more than $175 million by year three. After year one, the transaction is projected to be accretive to adjusted EPS with double-digit adjusted EPS growth after year one, excluding one-time costs.

UNFI CEO and Chairman Steven Spinner will lead the combined entity. Sean Griffin, UNFI COO, will lead the SUPERVALU integration efforts, post close. UNFI expects to finance the transaction substantially with debt and Goldman Sachs provided committed financing in the transaction.

Due to the announced transaction with United Natural Foods Inc., SUPERVALU will not hold its previously scheduled quarterly conference call to review first quarter fiscal 2019 results.