Cub Foods supermarkets to be sold next year

 

Cub Foods supermarkets to be sold next year

Photo: Cub Foods on Robert Street in West St. Paul, photographed Aug. 15, 2014. (Jean Pieri / Pioneer Press)

By BOB SHAW | Pioneer Press

Cub Foods stores probably will be sold sometime next year.

United Natural Foods, which owns Cub Foods, confirmed its plans for the sale on Tuesday.

According to company spokesman Michael Wilken, the company is also trying to find a buyer for Shoppers Food and Pharmacy, which operates 45 stores in the metro areas of Baltimore and Washington D.C.

Rhode Island-based United bought Supervalu Inc. in 2018 for $1.26 billion — including 80 Cubs in Minnesota and one in Illinois.

It is not yet known if the Cubs would all be sold to the same buyer, or would be sold off individually.

Cub Foods is the market leader in the Twin Cities metro area.

It has recently faced competition from Iowa-based Hy-Vee, which opened 11 stores since 2015. Expansions of food offerings by Target, Walmart, Aldi and Lunds & Byerlys have also tightened up the retail food market.

The last large-scale sale of a local food retailer involved Rainbow Foods. When that chain was sold in 2014, it resulted in 27 stores being closed or sold to new owners.

Source: https://www.twincities.com