how did the offer to give them a hand go? ggg
more good news today!
This represents growth ... and that's what makes the stock price go UP!
Monday January 24, 9:01 am Eastern Time
Company Press Release
Webvan Inks National Agreements With Fleming & SUPERVALU
Leading Wholesalers Will Supply Product for Webvan's Nationwide
Rollout
FOSTER CITY, Calif.--(BUSINESS WIRE)--Jan. 24, 2000--Webvan Group, Inc. (Nasdaq:WBVN - news) announced today that it has signed separate national agreements with SUPERVALU (NYSE:SVU - news) and Fleming (NYSE:FLM - news), the nation's leading distributors of food products. The two companies will serve as Webvan's primary providers of grocery, frozen, and dairy products as the company rapidly expands its online shopping and delivery service to new markets across the United States.
''These alliances are very important to the construction of Webvan's national footprint and a key ingredient in Webvan's 'last mile of e-commerce' strategy,'' said George T. Shaheen, CEO and President of Webvan Group, Inc. ''We are excited to be teaming up with two premium players in the food distribution industry. Together we are redefining the method by which retailers and suppliers interact.''
''These agreements immediately provide Webvan with a national supplier network, facilitating our aggressive expansion into new markets,'' added Maigread Martinez, Webvan's Vice President of Strategic Alliances. ''Based on our future nationwide volume, Fleming and SUPERVALU are affording Webvan incentives akin to those given to large brick-and-mortar retailers. In addition, we will work with these partners to streamline and optimize our supply chain.''
''SUPERVALU's agreement with Webvan mutually benefits both parties,'' said Mike Wright, chairman, CEO and president of Minneapolis-based SUPERVALU. ''Webvan's selection of SUPERVALU recognizes our expertise in grocery product fulfillment to the growing online home delivery sector of the market. We are very pleased to take on this new business, particularly as we will be serving nearly every new Webvan market within reach of our national network of distribution centers.''
''We are pleased to add this important online shopping leader to Fleming's growing list of e-commerce retail customers who benefit from Fleming's industry-recognized logistics expertise,'' said Mark Hansen, chairman and CEO of Fleming. ''We appreciate that Fleming has again been acknowledged for offering the fresh ideas, innovation and flexibility required to meet the special needs of e-commerce businesses, which Fleming has been serving since 1997. We are delighted that Fleming will be supplying nearly all Webvan centers within reach of Fleming's nationwide network of distribution facilities.''
Currently serving the San Francisco Bay Area, Webvan will expand its service to Atlanta, GA this spring, and is scheduled to enter up to 26 U.S. markets over the next three years. Terms of the multi-year agreements announced today have not been disclosed.
About Webvan
Webvan Group, Inc. is setting a new standard for Internet retailing, combining for the first time the convenience of online shopping
with a personalized courier service that delivers products into customers' homes within a 30-minute window of their choosing.
Through its Web site, webvan.com, Webvan offers a broad selection of quality products at competitive prices. The company's relentless focus on customer service, innovation, and value saves its customers time and money. Webvan's corporate headquarters are located in Foster City, CA.
About Fleming
Fleming is a leading wholesale and retail company, serving approximately 3,000 supermarkets and other retail businesses in 41
states, including approximately 240 company-owned stores.
About Supervalu
SUPERVALU is the nation's tenth largest supermarket retailer and largest food distributor to supermarkets. At quarter-end, SUPERVALU operated a total of 479 food retail stores which included 72 Cub Foods, 52 Shop 'n Save, 171 Save-A-Lot, 36 Shoppers Food Warehouse, 19 Metro, 39 Farm Fresh, 10 bigg's, 21 Scott's Foods, 16 Laneco, and five Hornbachers stores.
Through its Save-A-Lot operations, SUPERVALU serves 823 limited assortment stores. Additionally, SUPERVALU is the primary supplier to approximately 3,500 stores, excluding corporate-owned retail stores, and a partial supplier to approximately 2,600 stores in 48 states.
Safe Harbor Statement under Private Securities Litigation Reform Act of 1995: The statements contained in this press release that are not historical facts, including statements relating to expansion plans, are forward-looking statements that involve certain risks and uncertainties, including but not limited to risks associated with difficulties in managing rapid growth in personnel and geographically diverse operations, our ability to readily and cost-effectively replicate our business systems given their extreme
complexity, delays or design problems in connection with the replication of our distribution centers, the lack of a prior working
relationship with Bechtel and other uncertainties detailed in the Company's filings with the Securities and Exchange Commission. |
