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Here's Why Supervalu (SVU) Stock Is Spiking Today

NEW YORK (TheStreet) -- Shares of Supervalu (SVU) were jumping 8.8% to $5.44 in late-morning trading on Monday as the company reached a long-term supply agreement to be the grocery wholesaler and distributor for Fresh Market (TFM).

Supervalu will supply the Greensboro, NC-based specialty grocery retailer with products across a range of categories including meat, deli, bakery, frozen foods and dairy, according to a statement.

The companies intend for Supervalu to become the company's primary distributor upon the transition of Fresh...