Whole Foods Supplier to Buy Supervalu for About $2.9 Billion (1)

United Natural Foods Inc. agreed to buy Supervalu Inc. for about $2.9 billion, in the latest consolidation in the grocery industry.

The distributor of natural and organic foods to Whole Foods Market and other grocery chains will pay $32.50 a share in cash for Supervalu, according to a joint statement July 26. The per-share price represents a 67 percent premium to Supervalu’s closing price of $19.45 on Wednesday. The deal includes the assumption of debt.

Supervalu is mainly a grocery wholesaler, providing products to more than 1,800 stores. The company also operates almost 200 locations after selling most of ...