ST. LOUIS — Wisconsin supermarket chain Festival Foods will be coming under new ownership.
Schnuck Markets, based in St. Louis, has announced a definitive agreement to buy 100% of the shares of Skogen’s Festival Foods and its Hometown Grocers. The deal includes shares in the trust of the employee stock ownership plan.
Schnucks, Festival Foods and Hometown Grocers will become part of the new 1939 Group, named for the year the first Schnuck grocery store opened.
They will also maintain their separate corporate headquarters – Festival Foods in Green Bay and Onalaska, Schnucks in St. Louis.
The sale is expected to close in October. The financial amount was not disclosed.
Festival Foods owns 51 stores in Wisconsin -- 42 run as Festival Foods while its 9 Hometown Grocers stores include Dave’s County Market, Denny’s Supervalu, Don’s Quality Market, Lake Mills Market, Lakewood Supervalu, Super Ron’s Food Center, Thompson’s County Market, Thorp Supervalu and Wittenberg Sentry Foods.
“Our focus has always been on treating every customer like a guest, supporting the growth of our associates who make that experience possible and giving back to the communities we serve,” outgoing Festival Foods CEO Mark Skogen said. “With Schnucks’ shared commitment to nourishing lives, this transition will help expand our impact and continue our tradition of community support across the Midwest.”
Chairman/CEO Todd Schnuck said their companies share “strikingly similar” values focusing on communities and excellence in retail.
“With this combination, we’re welcoming more than 8,000 associates to our family, unifying two family legacies and redefining what it means to be a regional grocer,” Schnuck said.
