Schnuck Markets Purchases a Dozen Seessel’s Stores
Craig D. Schnuck, chairman and chief executive officer of Schnuck Markets, Inc. announces its agreement to acquire 12 Seessel’s stores. The properties were purchased from Albertson’s, Inc., which sold 10 stores in Shelby County, Tenn. and two in Desoto County, Miss. The transaction should be finalized by Monday, June 3.
The Seessel’s stores range in size from 26,000 to 68,000 square feet. Six were opened within the past three years, nine have in-store pharmacies and six of the newer ones operate full-service gas stations, a new venture for Schnucks.
Schnuck says his company first looked at Seessel’s in 1992. “This is the third time we have expressed interest and our second attempt to buy the stores. The fact that we keep coming back signals how much we want to become a part of the Memphis community.”
Moderator Comment: Will Schnuck Markets succeed with
the Seesel’s locations where Albertson’s didn’t?
We don’t know the full details of Schnuck’s plans in
the Memphis market. But, this organization is first class and we wouldn’t bet
against them, just as we wouldn’t bet against our other personal grocery favorites,
Wegman’s, Harris Teeter, HEB, Meijer, Marsh Supermarkets or Ukrop’s. [George
Anderson – Moderator]