Kroger, Fresh Encounters win Marsh stores at auction

News>Retail & Financial    Kroger Fresh Encounter win Marsh sites at auction       
    

  stores go for $24M             Jon Springer | Jun 13 2017

Fresh Encounter is an Ohio-based company that operates grocery stores under the names Community Markets, Great Scott Community Markets, Sack 'N Save Supermarket and Chief.

The supermarket chain said their decision to close their stores "was exclusively the product of the hard competitive environment and in no way reflects on the efforts of the great associates working in these stores".

The Tipton Marsh is now the only supermarket in Tipton County.

Marsh sold its pharmacy assets to a CVS subsidiary in April.

The two Ohio-based grocery chains that agreed to purchase 26 stores from Marsh Supermarkets have reached a settlement with pharmacy giant CVS Health, getting them a step closer to finalizing the transaction totaling $24 million.


None of the Marsh locations in Anderson were sold through the auction process as of Tuesday and the fate remains unknown.

Topvalco plans to purchase 11 Marsh locations for $16 million, and Generative Growth II has agreed to buy 15 locations for $8 million. Generative Growth II is set to spend $8 million on 15 Marsh locations across IN and Ohio.

Topvalco, Inc., a subsidiary of Kroger, hopes to assume contracts for the leases of 11 Marsh stores, including the two Zionsville Marsh stores, at 10679 N. Michigan Rd. and 5 Boone Village, and the Fishers Marsh store, at 12520 E. 116th St.

The next hearing on the proposed sales is Wednesday in federal bankruptcy court in Delaware. "Earlier this year, Fresh Encounter purchased Remke Markets" 10 stores in the Cincinnati area.

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