SuperValu is exploring the possibility of a spinning off Save-A-Lot, a grocery chain based in Earth City, as a standalone public company.
Minnesota-based SuperValu also named a new CEO for Save-A-Lot. Eric Claus will replace current CEO Ritchie Casteel in January. Casteel, who was named president and CEO of the company in 2013, will remain president.
Claus is chairman, president and CEO of Canada’s Red Apple Stores Inc., a value retail chain based in Mississauga, Ontario.
Save-A-Lot was purchased by SuperValu in 1992 for $1.1 billion. Today, it has more than 1,300 stores.