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Festival Foods Sold to St. Louis-Based Supermarket Chain
Schnucks expands Midwest presence by acquiring 51 Wisconsin stores, increasing total stores to 164 and workforce to 19,000, while maintaining existing store brands and leadership.
- On September 16, 1939 Group Inc., owned by the Schnuck family, finalized the acquisition of all outstanding shares in the Wisconsin-based parent company that operates Festival Foods along with a group of smaller grocery stores known as Hometown Grocers Inc.
- The acquisition followed a definitive agreement to buy 100% of shares, including those held by family and employee stock ownership plan participants, to expand Schnucks' regional footprint.
- Festival Foods operates 42 stores, and Hometown Grocers owns nine smaller stores under various banners, all of which will keep their current names and continue operations independently.
- Todd Schnuck will lead the newly-formed 1939 Group as chairman and CEO while maintaining leadership at Schnuck Markets, which will now manage 164 stores across four states.
- Mark Skogen, outgoing CEO, expressed pride in serving Wisconsin communities since his grandparents began the business in 1946, and the transition aims to uphold community values across the Midwest.
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12 Articles
St. Louis-based grocery chain will acquire Wisconsin-based Festival Foods
A Missouri-based grocery chain is purchasing Wisconsin-based Festival Foods, which has long branded itself as family and employee-owned. The post St. Louis-based grocery chain will acquire Wisconsin-based Festival Foods appeared first on WPR.
·Madison, United States
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Coverage Details
Total News Sources12
Leaning Left1Leaning Right0Center8Last UpdatedBias Distribution89% Center
Bias Distribution
- 89% of the sources are Center
89% Center
11%
C 89%
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