Supervalu has deep roots in groceries

The company that is now Supervalu got its start in the 1920s and expanded rapidly in recent years.

1926: The Newell Co., which had built the Twin Cities' first modern grocery warehouse, merges with another local wholesaler to create Winston and Newell.

1953: Winston and Newell, now a multistate food distribution firm, is renamed Super Valu.

1967: Super Valu issues publicly traded stock.

1980: The company acquires Cub Foods, which becomes the Twin Cities' largest grocery retailer.

1992: Supervalu buys St. Louis-based Wetterau Inc., giving it the Shop 'N Save and Save-A-Lot banners.

1999: Supervalu buys Richfield Holdings, gaining retail chains in the Baltimore-Washington area.

2009: Craig Herkert, an erstwhile Wal-Mart executive, succeeds retiring CEO Jeff Noddle, architect of the Albertsons deal. Recession is in full swing and lower-priced competition is battering Supervalu.

July 11, 2012: With Supervalu's performance going from bad to worse and its stock at historic lows, the firm puts itself up for sale in whole or in parts.

July 30, 2012: Herkert is terminated. Non-executive chairman Wayne Sales, former head of a large Canadian retailer, is named CEO.

Jan. 10, 2012: Supervalu announces $3.3 billion deal to sell its biggest chains to an investor group led by Cerberus Capital, a large private equity outfit. The company also announces tender offer by Cerberus for up to 30 percent of Supervalu at $4 per share.