Published July 28, 2015 8:14am EDT | Updated August 5, 2015 10:03pm EDT

Supervalu Inc. Considering Spinning Off Save-A-Lot Business

Supervalu Inc. announced Tuesday that it is considering a separation of its Save-A-Lot business and is preparing to spin if off as its own publicly traded company. Save-A-Lot has more than 1,300 stores and "significant growth potential," according to Supervalu CEO Sam Duncan. Supervalu has hired Barclays and Grenhill to serve as financial advisors. The company did not set a specific timetable for when this may happen.