Jewel-Osco said it has entered into an asset purchase agreement with Central Grocers to acquire 19 Strack & Van Til stores and other certain assets. Strack & Van Til is owned by Central Grocers, which filed for bankruptcy protection at the beginning of May.
Jewel-Osco will serve as the “stalking horse bidder” in a court-supervised sale process. Various media reports put the sale at $100 million.
The auction is expected to get underway on June 2, 2017, assuming court approval of the bidding procedures.
Jewel-Osco operates 186 stores, primarily in Illinois and Iowa. The transaction, if completed, would expand the Jewel-Osco footprint further into Indiana, where it currently operated four stores. The…