(June 19) As the Lewisville, Texas-based Fleming Cos. continues to shed its retail and distribution operations, companies in the Twin Cities keep reaping the benefits.

Eden Prairie, Minn.-based Supervalu Inc. is the latest benefactor.

On June 13, Supervalu announced it became the primary distributor for 31 SuperTarget stores located in Texas, Louisiana and Oklahoma. The stores, which were previously supplied by Fleming, are grocery and general merchandise combination stores owned by Target Corp., Minneapolis.

According to the company’s Web site, Supervalu will supply grocery, meat, deli, frozen, bakery, produce and Archer Farms private-label products to the stores. With this addition, Supervalu supplies all 102 SuperTarget stores.

Eric Larson, senior analyst with U.S. Bancorp Piper Jaffray, Minneapolis, revised his analysis of Supervalu June 17. In it, he found that the addition of the SuperTarget store business should raise the 12-month price target on Supervalu’s stock from $17 to $24. He also estimated annual revenue from the addition at $150 million to $170 million. Supervalu stock closed at $22.81 on June 18, up 21 cents for the day.

Fleming also announced that it would close three more distribution centers (in addition to the five it already said it would close) in Superior, Wis.; Geneva, Ala.; and Lafayette, La.

While no confirmation could be made, the Piper Jaffray analysis said Supervalu would be able to provide service to those three areas from its Hopkins, Minn., and Anniston, Ala., distribution centers.

“No estimates were provided on the annual revenue served from the three facilities. However, we estimate it to be approximately $400 million to $600 million,” stated the report.

Nash Finch Co., also in Minneapolis, benefited from Fleming’s downsizing in May when it gained distribution contracts for 20-25 Super Kmart stores that were previously supplied by Fleming.