Struggling Parent Company Could Put Shaw's, Star Market on Selling Block
Shaw's and Star Market could be on the selling block, according to a report in the Boston Herald.
A sale could in the future for the Shaw's and Star Market, according to a July 13 report in the Boston Herald. The parent company of the West Bridgewater-based Shaw's and Star Market chains has been struggling in its attempt to complete a turnaround.
In effort to change the fortunes of the company, Minneapolis-based Supervalu Inc. said earlier this week it will cut its prices aggressively and eliminate $250 million in expenses in the next two years.
Supervalu owns 4,400 stores across the country with $35 billion in annual sales.
“These are bold but necessary moves which will position Supervalu for success in this increasingly competitive environment,” CEO Craig Herkert said in a statement.
“While our shift to a fair price plus promotion strategy is right for our business, it is essential that we move even more aggressively to lower prices, and anticipate and respond to competitor actions.”
Supervalu acquired the Shaw's and Star Market chains from Albertsons Inc. in 2006.
The report said Supervalu faces "location, presentation and pricing threats" from several area competitors.
The Shaw's website indicates they opperate more than 80 Shaw's and Star Market supermarkets in Massachusetts, including the Stoughton Shaw's at 666 Washington St. There is also a Shaw's at the Cobb's Corner Village Shoppes in Canton, just over the Stoughton line.