Kroger buys Zionsville Marsh stores

Lucy Hill
June 15, 2017

Marsh's 44 remaining stores went to auction Monday, and two Midwest grocery chains came out on top.

A spokesman for Indianapolis-based Marsh Supermarkets says liquidation sales will begin Thursday at 18 stores not identified as sold to two Ohio-based buyers earlier this week.

Fishers-based Marsh said in a bankruptcy court filing Tuesday that the store purchasers-Cincinnati-based Kroger Co. and Findlay, Ohio-based Fresh Encounter Inc. Topvalco agreed to buy three stores in Bloomington; two each in Indianapolis, Muncie and Zionsville, and single stores in Fishers and Greenwood.

Marsh contended that the CVS agreement only barred Marsh itself from operating pharmacies at the locations.

The two winners were Topvalco, Inc., a subsidiary of Kroger, and Generative Growth II, LLC the parent company of OH grocery operator Fresh Encounter.

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Kroger and Fresh Encounters have said in court documents that it would proceed with the acquisition only if the restriction is removed.

The stores are located mainly in OH and eastern in, operating at 21 locations. CVS was fighting to enforce a provision in that deal barring those stores from reopening pharmacies for five years.

And the deal with Kroger and Fresh Encounter isn't sealed yet. Further, it asserted that even if the condition did apply to buyers, the language was "unenforceable under the bankruptcy code".

The next hearing on the proposed sale is tomorrow in federal bankruptcy court in Delaware.

Other reports by TheDailyFarc

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