Crystal Grocery Store Owner Isn’t Surprised by Supervalu Sale
Minnesota’s largest grocery chain faces an uncertain future after news of the Supervalu sale. Supervalu is the parent company of Cub Foods.
On Thursday, news broke of a $2.9 billion dollar Supervalu sale to Rhode Island-based United Natural Foods, Inc.
The sale could have big implications for the Cub Foods grocery store chain.
What’s Next After Supervalu Sale?
Experts say the Supervalu sale raises the possibility some of Cub’s 78 stores could be sold and some could close.
Meantime, a local businessman who has owned grocery stores for nearly three decades says he wasn’t surprised by the Supervalu sale.
“Supervalu has done some things over the past couple of years that have kind of led to the ability to have this happen,” says Jim Almsted, owner of Almsted’s Fresh Market in Crystal.
Almsted says the grocery market is becoming more competitive and the whole industry is consolidating.
“Supervalu is still suffering some of the effects of the Albertson’s acquisition and disposal,” says Almsted.
Almsted says he was not surprised by the news of the Supervalu sale.
Supervalu is the primary wholesaler for Almsted’s Fresh Market, which means Almsted buys the vast majority of his goods from Supervalu.
Crystal Grocer Doesn’t Expect Supervalu Sale to Disrupt Distribution
Almsted says he doesn’t anticipate the new company to make many changes to the food distribution part of the Supervalu business.
As for what the future could hold for the 78 Cub Foods stores, Almsted says it’s too early to speculate.
“This is a very competitive market, and there probably isn’t a long list of other grocery companies that would like to move here, so we’ll see what happens,” says Almsted.
A statement from Matthew Utecht, president of United Food and Commercial Workers Union Local 653, expresses concern for the employees working at the Cub Foods locations.
“Currently, our main concern is for our union brothers and sisters working in Cub Foods in Minnesota,” says Utecht in the statement.
He added: “I commit to our members that in the coming days we plan to fight for thousands of our union families. We will fight maintain good wages, benefits and desirable union jobs won through collective bargaining.”
In the CCX viewing area, there are eight Cub Foods, including three locations in Plymouth.
In recent months, several of the local stores completed extensive remodels, including the Maple Grove and Crystal Cub stores.
This weekend, the Plymouth cub on Vicksburg Lane is celebrating a grand reopening.
