business news in context, analysis with attitude

• United Natural Foods (UNFI) announced yesterday that it has acquired Gourmet Guru, described as "a distributor and merchandiser of fresh and organic food focusing on new and emerging brands," in an all-cash transaction. Terms of the deal weren't disclosed.

• The Charlotte Observer reports that "Food Lion says it has finished work on about half of its Charlotte-area grocery stores, as part of a major renovation effort at the chain." Seventy of its 142 stores there are done, with the rest of them scheduled to be finished by October.

Investor's Business Daily reports that CVS Health "is launching CVS Pay, joining Apple, Starbucks, Wal-Mart and others in mobile payments," with plans to start offering it "in certain markets including New York, New Jersey, Pennsylvania and Delaware. A nationwide rollout is planned later this year."

Twin Cities Business reports that Supervalu has "issued early drafts to the U.S. Securities and Exchange Commission regarding its separation of Save-A-Lot. The filing, which is the most formal and thorough documentation of the spin-off plan to date, details a 60/40 stock split of Save-A-Lot once it goes public. If nothing changes, 60 percent of the stock will be proportionally distributed to Supervalu stockholders ...  The other 40 percent of the stock will be retained by Supervalu, although the company said it 'plans to dispose' of at least half of those shares within two years."

The filing comes even as there has been speculation that Supervalu could sell Save-A-Lot to a private equity group.
KC's View: