SuperValu Opens First Organic Foods Store
Minneapolis, SuperValu cut the ribbon on its first Sunflower Market store, the food wholesaler’s new organic-foods concept. The Indianapolis location occupies 12,000 sq. ft. and stocks between 8,000 and 12,000 SKUs. SuperValu plans to have 50 Sunflower Supermarket locations within five years.
Alberto-Culver to Sell Sally Beauty to Regis
New York City, Alberto-Culver said Tuesday that it signed a $2.6 billion agreement to spin-off the Sally Beauty Co. retail chain and merge it with Regis Corp.
The combined company will include Sally Beauty’s 2,419 namesake stores and 822 BeautySystems Group outlets and Regis’ 10,952 beauty salons. The salons operate under such brand names as Regis, Supercuts, Trade Secret and Vidal Sassoon.
The boards of Alberto-Culver and Regis have voted to approve the transaction, which is still subject to both shareholder and regulatory approval. The deal is expected to be completed in late spring or early summer.
Home Depot Buys Hughes Supply for $3.47B
Atlanta, The Home Depot announced an agreement to acquire the Orlando, Fla.-based construction, repair and maintenance-products distributor Hughes Supply Inc. The deal is valued at $3.47 billion, including the assumption of $285 million in net debt.
The addition of Hughes Supply will double the size of The Home Depot Supply division. Combined annual sales are estimated to be near $12 billion. Hughes, which operates more than 500 stores in 40 states, gathered revenues of $4.4 billion in its last fiscal year.
In a separate deal, Home Depot purchased Chem-Dry, a Logan, Utah-based provider of carpet and upholstery cleaning. Terms of the deal are undisclosed. Home Depot said it has not yet decided if the Chem-Dry locations will carry The Home Depot name.