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MINNEAPOLIS — Supervalu on Wednesday announced that it has entered into a stock purchase agreement for the sale of Total Logistic Control — a wholly owned subsidiary that provides logistics and supply chain management solutions to manage distribution, warehousing and transportation operations for food, beverage and consumer packaged goods companies — to Ryder Integrated Logistics.
Subject to closing conditions and regulatory approvals, the sale is expected to close Dec. 31.
"TLC has been a strong and growing part of our supply chain services organization," stated Janel Haugarth, Supervalu EVP, president and COO of supply chain services. "Today's announced acquisition of TLC by Ryder positions TLC to become part of a company that will take them to the next level of expansion and growth in their field of expertise servicing CPG companies. Supervalu will continue to focus its efforts on becoming America's Neighborhood Grocer, and providing supply chain expertise and services to our independent and owned stores."
Additional details regarding the terms of the agreement were not disclosed.