Supervalu board approves Save-A-Lot spinoff

Supervalu Inc. has filed a plan to spin off its Save-A-Lot brand as a stand-alone company, but didn’t say when the separation would be final.

The separation will be through a pro-rata distribution of shares of Save-A-Lot common stock to SuperValu stockholders, who will own at least 80.1 percent of the outstanding shares of the new company.

The spinoff’s headquarters will be at Save-a-Lot’s current offices in Earth City, Mo. Eden Prairie-based Supervalu, in a filing with the Securities and Exchange Commission, said the move does not need stockholder approval.

Read more: St. Louis Business Journal, St. Louis Post-Dispatch


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