Supervalu Sells Gas Stations; Holiday Buys Some
Supervalu, Inc., on Wednesday announced plans to sell more than 100 fuel centers throughout the United States, including eight in Minnesota-and Bloomington-based Holiday Stationstores is among the buyers.
Eden Prairie-based Supervalu said that it accepted four separate bids for the fuel centers, and the deals include the majority of fuel centers found at its supermarket chains, including Cub Foods, Albertsons, Hornbacher's, and Jewel-Osco.
Financial terms of the sales were not disclosed. Supervalu said that Holiday will purchase 15 fuel centers-including eight at Cub Foods stores in Minnesota, two from Hornbacher's in North Dakota, and five from Albertsons in Montana.
According to a report by the Pioneer Press, the Cub fuel centers in Minnesota are located in Blaine, Brooklyn Park, Cambridge, Crystal, Mankato, Rochester, Stillwater, and Willmar, and they will be rebranded as Holiday gas stations once the deal is finalized.
San Antonio, Texas-based Tesoro will buy 51 Albertsons fuel centers in California, Nevada, Oregon, Utah, Washington, Wyoming and Idaho. Canada-based Couche-Tard/Circle K will purchase 27 Jewel-Osco fuel centers, most of which are in the Chicago area. Stinker Stores of Boise, Idaho, will purchase 14 Albertsons fuel centers in Idaho.
Supervalu operates 27 fuel centers that aren't involved in the recently announced deals-but it appears the company may be looking to exit the gas station business altogether. Supervalu said that it will continue to operate those stations “while continuing to seek potential buyers moving forward.”
Supervalu said that the transactions, which are expected to close this fall, will allow it to monetize non-core assets. The company said the terms of the deals also include partnership opportunities that will allow it to offer fuel rewards programs at the fuel centers.
“As we execute on our strategic plan, we are continually reviewing all areas of our business to identify opportunities to strengthen our market position, reduce costs, or generate capital that can be reinvested into the business,” Pete Van Helden, executive vice president of retail operations, said in a statement. “These transactions help us further execute on our transformation plan, while also creating an opportunity for us to partner with major fuel retailers to bring broader fuel rewards programs to our customers.”
Supervalu serves customers throughout the country through a network of about 4,290 stores. It is Minnesota's fourth-largest public company based on its 2010 fiscal year revenue, which totaled $40.6 billion. The company reported revenue of $37.5 billion for its most recently completed fiscal year.