Business Acquisitions Business Acquisitions

4 Months Ended

Jun. 17, 2017

Business Acquisition [Abstract]

Business Combination Disclosure [Text Block]

NOTE 2—BUSINESS ACQUISITIONS

On June 23, 2017, Supervalu completed the acquisition of Unified Grocers, Inc. (“Unified”) pursuant to the terms of an Agreement and Plan of Merger dated April 10, 2017 (the “Merger Agreement”) by and among Supervalu, West Acquisition Corporation, a wholly owned subsidiary of Supervalu (“Merger Sub”), and Unified. Supervalu acquired Unified in a transaction valued at $390, comprised of $114 in cash for 100 percent of the outstanding stock of Unified plus the assumption and payoff of Unified’s net debt of $276 at closing.

At the closing of the transaction, Merger Sub merged with and into Unified. As a result of the transaction, Unified became a wholly owned subsidiary of Supervalu and the shares of Unified were converted into the right to receive from Supervalu $114 in cash in the aggregate.

No amounts of revenue or expenses of Unified were included in the first quarter of fiscal 2018 results of operations, financial position or cash flows of Supervalu since the business was not acquired until the second quarter of fiscal 2018.  Supervalu incurred merger and integration costs of $4 in the first quarter of fiscal 2018 related to the Unified acquisition. Supervalu has not included pro forma financial disclosures for the Unified acquisition in this Quarterly Report on Form 10-Q for the 16 weeks ended June 17, 2017 because the information necessary to complete the disclosure was not yet available.