Court approves Marsh deals to sell 26 grocery stores

Tammy Harvey
June 15, 2017

Pruitt offered no timeline for Kroger and Fresh Encounter to close and take over the 26 stores they're buying across IN and Ohio.

And a CVS spokesperson says his company has "settled" a dispute with the two OH grocery chains that want to buy Marsh's 26 other remaining stores.

Cincinnati-based supermarket powerhouse Kroger will acquire 11 Marsh stores for $16 million, and Fresh Encounter Inc., based in Findlay, OH, will buy 15 Marsh locations for $8 million.

The 18 Marsh grocery stores that don't have a buyer will start selling off their inventories Thursday, according to a company spokesperson. Generative Growth II is set to spend $8 million on 15 Marsh locations across IN and Ohio. The company closed its other, less profitable stores in May as it filed for Chapter 11 bankruptcy protection.

It said Generative Growth agreed to buy two Indianapolis stores; other IN stores IN Columbus, Elwood, Greensburg, Hartford City, Marion, New Palestine, Pendleton, Richmond and Tipton; and OH stores IN Eaton, Middletown, Troy, and Van Wert.

A subsidiary of Kroger, Topvalco the apparent successful bidder to purchase 11 stores at a cost of $16 million. One possible obstacle to the sale is an objection by CVS Health, which purchased the pharmacy accounts from Marsh in April.

The transactions are subject to bankruptcy court approval. As a condition of the deal, the 37 Marsh stores with pharmacies were precluded from operating pharmacies for five years, the newspaper noted, citing a recent bankruptcy court filing.

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