US: Kroger to buy Schnuck stores in Memphis
Kroger is set to buy seven stores in Memphis
Kroger is set to buy seven convenience stores in Memphis from fellow US retailer Schnuck Markets.
The outlets will be operated by Kroger's Tom Thumb Food Stores convenience-store division under the banner name Kwik Shop. Financial details of the deal were not disclosed. Tom Thumb Food Stores currently operates 116 stores in Florida and Alabama.
"We are pleased to enter this important market with our Kwik Shop convenience store banner," Van Tarver, vice president of convenience stores for Kroger, said on Friday (2 September). "We will strive to operate stores staffed with great people who want to make your shopping experience as efficient and enjoyable as possible."
According to the Memphis Daily News, Kroger has 30% of the local grocery market while Schnuck has 13%.
US retailer Kroger is set to merge four pension funds to save money. ...
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