Blackwells Capital Outlines Value-Enhancement Plan for Supervalu Inc. in Letter to Board

NEW YORK–(BUSINESS WIRE)–Blackwells Capital LLC (“Blackwells”), an alternative investment management firm, today sent a letter to the Board of Directors (the “Board”) and management of Supervalu Inc. (NYSE:SVU) (“Supervalu” or the “Company”) outlining concerns with the Company’s share price performance and the absence of a clear strategy to unlock value and to position the Company for sustainable success. With ownership representing approximately 3.6% of Supervalu’s common stock and equivalents, Blackwells ranks among the Company’s largest shareholders.

In the letter, Blackwells identifies multiple, concrete opportunities that it believes will create substantial value for Supervalu’s shareholders, as well as significantly improve the strength of Supervalu’s business. Blackwells has requested a near-term meeting with the Board and management to constructively review its proposal and begin developing an actionable plan to strengthen the Company and its performance.