Supervalu Inc. (SVU) has reached a deal to sell its Total Logistic Control subsidiary to Ryder System Inc. (R) for an undisclosed amount.
The supermarket operator, which owns chains such as Albertsons and Shaw's, said it would sell the subsidiary, which provides logistics and supply-chain management solutions to manage distribution, warehouse and transportation operations for food, drink and packaged-goods companies.
Ryder, the buyer, said it expects the acquisition to add about $250 million in annual revenue to its supply-chain solutions business segment. Ryder said it expects the deal to help its bottom line in 2011, excluding transaction costs. The sale, subject to closing conditions and regulatory approvals, is expected to close on Dec. 31.
"This acquisition expands our supply-chain solutions offering with firmly established, comprehensive food, beverage and [consumer packaged goods] capabilities, to complement our suite of automotive, high-tech, industrial and retail groups," said Chairman and Chief Executive Greg Swienton.
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