Sam Duncan joined Supervalu, Inc.'s Board of Directors on July 17, 2013. Mr. Duncan has served as the President and Chief Executive Officer of the Company since February 4, 2013. Prior to joining the Company, Mr. Duncan served from 2005 to 2011 as Chairman, CEO President of OfficeMax.
SuperValu, Inc. is an American retailing company. The corporation, headquartered in the Minneapolis suburb of Eden Prairie, Minnesota,[1] has been in business for over a century. It is the third-largest food retailing company in the United States (after Kroger and Safeway), and ranks #75 on the 2012 Fortune 500 list.[2]
On June 2, 2006, Boise, Idaho-based Albertsons, Inc. and 1,124 of its stores were sold to Supervalu. The sale was approved by the shareholders of both Supervalu and Albertsons on May 30, 2006.
In January 2013, the company announced it was selling its 877 stores in Albertson's, Acme, Shaw’s and Star Market chains to Cerberus Capital Management for $100 million in cash with Cerberus assuming $3.2 billion in existing debt. SuperValu would keep its Cub, Farm Fresh, Shoppers, Shop ‘n Save and Hornbacher’s brands as well as its wholesale supply operation.[4] The deal closed March 21, 2013.
