Local grocer agrees to purchase six locations
MINNEAPOLIS & ERLANGER, Ky., Mar 29, 2010 (BUSINESS WIRE) --SUPERVALU (NYSE: SVU) and Remke Markets announced today that they have entered into an agreement for the transfer of ownership of six Greater Cincinnati bigg's stores and their pharmacies. As part of the transaction, Remke will purchase the following locations:
- Highland Ridge, 3240 Highland Avenue, Cincinnati
- Western Hills, 5071 Glencrossing Way, Cincinnati
- Skytop, 5218 Beechmont Avenue, Cincinnati
- Hyde Park, 3872 Paxton Avenue, Hyde Park
- Mason Montgomery, 9600 South Mason-Montgomery Road, Mason
- Delhi, 5025 Delhi Road, Cincinnati
"We are absolutely thrilled to welcome these bigg's stores and their customers into the Remke family," said Bill Remke, president and CEO of Remke Markets. "The bigg's stores bring many assets to our organization, and we look forward to blending the strengths of two great grocery chains to create an organization committed to service, quality and value."
The transaction is expected to close in spring 2010 and will bring Remke Markets' complement of locally owned and operated stores to 13. Each of these locations will be supplied by the SUPERVALU distribution center in Xenia, Ohio.
"We look forward to working with the Remke organization through our supply relationship as they strengthen their overall presence in the marketplace," said Janel Haugarth, SUPERVALU executive vice president and president/chief operating officer of the Minneapolis-based company's Supply Chain Services organization
Remke has been in the grocery business for more than 113 years and the company will remain committed to the quality personal service and care customers have come to know and trust.
"We are completely committed to being a strong, locally run independent grocer in the Greater Cincinnati area," stated Remke. "This purchase, and the ability to work with SUPERVALU via our supply relationship, will allow our entire organization to expand and give us the opportunity to provide even more quality products, personal service, value and convenient locations to all customers."
SUPERVALU plans to close its five remaining bigg's stores before the end of May. These locations include:
- Eastgate, 4450 Eastgate Boulevard, Cincinnati
- Harrison, 10501 New Haven Road, Harrison
- Colerain, 8340 Colerain Avenue, Cincinnati
- West Chester, 4824 Union Center Boulevard, West Chester
- Florence, 4874 Houston Road, Florence (KY)
Prescription files at the Florence bigg's store will be transferred to Remke Market's Turfway store later this spring. The other four pharmacies' files will be transferred to another local company.
About Remke Markets
Remke Markets is an employee-owned grocery store that has been serving Northern Kentucky communities since 1897. Known for the best fresh produce in the area and superb meat, deli and bakery departments, Remke Markets prides itself on bringing Northern Kentucky shoppers quality, value and positively outrageous service. Remke also is committed to the communities in which it serves through programs like Remke Markets Student Achiever and Remke Caring Neighbors. There are seven Remke stores centrally located in Northern Kentucky. This recent transaction adds six bigg's stores to the organization. For more information about Remke Markets, visit www.remkes.com.
SUPERVALU INC. is one of the largest companies in the U.S. grocery channel with estimated annual sales of $41 billion. SUPERVALU serves customers across the United States through a network of approximately 4,290 stores composed of approximately 1,200 traditional and premium stores, including 850 in-store pharmacies; 1,180 hard discount Save-A-Lot stores, of which 860 are operated by licensee owners; and 1,910 independent stores serviced primarily by the company's traditional food distribution business. SUPERVALU has approximately 170,000 employees. For more information about SUPERVALU, visit www.supervalu.com.
SOURCE: SUPERVALU INC.
Haley Meyer Marconett, 952-828-4786
Sunrise Advertising public relations, on behalf of Remke Markets
Cresta Lewis, 513-419-4710