A SuperValu distribution center in Hopkins, Minn. The chain’s sale-leaseback deal on warehouses comes as the company faces a proxy fight over board membership. Photo: Bloomberg NewsGrocery-chain owner Supervalu Inc. SVU 1.79% has reached a deal to sell eight distribution centers and is exploring a sale of supermarket chain Shop ‘n Save as it seeks to boost results amid investor pressure. The Minnesota-based company, one of the nation’s largest grocery companies, said Tuesday it had had reached agreements to sell the eight centers for roughly $445 million after taxes and lease them back for an initial term of 20 years with five, five-year renewal options. The company said it would sell the sites to a single buyer but didn’t name the buyer.

Source: Wall Street Journal April 26, 2018 16:46 UTC