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MINNEAPOLIS - Supervalu said Wednesday it anticipates $400 million in annualized revenues from its SuperTarget supply arrangement, expanded during the first quarter, which ended
June 15, 2002. The new business will commence in August 2002.
At the end of 2002, Supervalu will supply products such as grocery, meat, deli, frozen, dairy, bakery, produce, and Archer Farms private label products to 67 SuperTarget stores in 15 states. At the end of its first quarter, Supervalu supplied 37 SuperTarget stores in 10 states.
"We are very excited about the opportunity to grow our business with SuperTarget, and with the recent expansion of this arrangement, we will more than double our annual volume. During the course of our three-year relationship, Supervalu has provided the Target Corporation with traditional and alternative logistics solutions, serving their needs as they continue to grow their presence in grocery retailing," said Jeff Noddle, Supervalu chairman and CEO.