Save-A-Lot, the discount grocery chain headquartered in Earth City, could soon be publicly traded as a stand-alone company.
Minneapolis-based SuperValu filed paperwork this week with the Securities and Exchange Commission to spin off its subsidiary.
Its shareholders will own about 80.1 percent of Save-A-Lot, which will be publicly traded. SuperValu will retain 19.9 percent ownership.
"SuperValu believes Save-A-Lot has significant growth opportunities in a segment of the retail and grocery industry that is currently experiencing rapid growth," the company said in a statement.
Save-A-Lot was founded in 1977 by Bill Moran. One store quickly grew into a chain, which was sold to another St. Louis grocer, Wetterau Inc., in 1988. SuperValu then bought Wetterau in 1993.
SuperValu owns several traditional grocery chains, including Cub Foods, Farm Fresh, Hornbacher’s, Shoppers, and Shop ‘n Save. According to its website, Save-A-Lot is the only discount grocer it owns.
The wholly owned subsidiary has 1,300 stores nationwide. It has 19 company-owned stores in the St. Louis region with about 800 employees.
A date for the separation has not been set.
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