Blackwells Issues Open Letter to Supervalu Board of Directors in Response to Continued Value Destruction and Entrenchment

NEW YORK–(BUSINESS WIRE)–Blackwells Capital LLC (together with its affiliates, “Blackwells Capital” or “Blackwells”), an alternative investment management firm and one of the largest shareholders of Supervalu Inc. (NYSE:SVU) (the “Company”) with an approximate 5.2% ownership interest, today issued the following open letter to the Company’s Board of Directors, in response to its continued refusals to engage in good faith over proposals to reverse the continued destruction of shareholder value.