Blackwells Comments on Supervalu Board Continuing to Ignore Its Disastrous Record

NEW YORK–(BUSINESS WIRE)–Blackwells Capital LLC (together with its affiliates, “Blackwells Capital” or “Blackwells”), an alternative investment management firm with over 8% ownership interest in Supervalu Inc. (NYSE:SVU) (“Supervalu” or the “Company”), responded today to the investor presentation filed yesterday by Supervalu. Blackwells has nominated six highly qualified professionals for election to the Supervalu Board of Directors at the Company’s upcoming annual meeting. Information on the candidates nominated by Blackwells can be found in the Blackwells proxy statement or at

Blackwells highlights that the Company claims to be “aggressively transforming the business” and “delivering results,” consistent with a prior pattern of puffery that the Company is “rapidly and strategically transforming” and “making meaningful progress,” all of which has “translated into measurable results” and “demonstrated strong momentum.” Meanwhile, the stock has declined more than 80% in the three years prior to Blackwells’ public statements, including more than 47% during the 12 months prior to those statements.