Supervalu to sell supply chain logistics subsidiary
MINNEAPOLIS - Supervalu announced that it has entered into a stock purchase agreement for the sale of Total Logistic Control (TLC), a wholly owned subsidiary that provides logistics and supply chain management solutions to manage distribution, warehousing and transportation operations for leading food, beverage and consumer packaged goods companies. Subject to closing conditions and regulatory approvals, the sale is expected to close on Dec. 31.
TLC will be purchased by Ryder Integrated Logistics Inc., the supply chain solutions division of Ryder System Inc., a Fortune 500 provider of integrated logistics and transportation solutions. Ryder intends to retain the current TLC management and associate base, who will continue to serve clients without disruption.
“TLC has been a strong and growing part of our supply chain services organization,” said Janel Haugarth, Supervalu EVP and president and COO 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.”