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The Associated Press October 29, 2010, 1:54PM ET

Supervalu sells Bristol Farms unit to partnership

Supermarket operator Supervalu Inc. said Friday it has sold its Bristol Farms chain to that division's management team in partnership with investment firm Endeavour Capital.

Bristol Farms, a southern California based grocery retailer formed in 1982, now operates 13 Bristol Farms stores and one Lazy Acres store. The locations will continue to operate under their current names with existing local management and employee base.

Financial terms of the deal were not disclosed.

Endeavour Capital is a private investment firm with a focus on food manufacturing, distribution and grocery retail. Other investments have included Columbus Foods, New Seasons Market, WinCo Foods, Bi-Mart, Columbia Distributing, National Frozen Foods and Columbus Foods.

Supervalu shares added 5 cents to $10.88 in afternoon trading.

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