Private equity firm Sun Capital has announced that MSH Supermarkets, an affiliate of the group, has completed the acquisition of Marsh Supermarkets for a purchase price of approximately US$325m.

Marsh is a leading multi-format food retailer in Indianapolis and surrounding markets, operating 116 supermarkets, 154 convenience stores, and other catering and retail businesses under such well-recognized brands such as Marsh Supermarkets, LoBill Foods, Village Pantry, Crystal Food Service, and Enflora(R).

Gary Talarico, MD of Sun Capital Partners, said: “We are pleased that our affiliate, MSH Supermarkets, has completed the acquisition of Marsh Supermarkets. Marsh Supermarkets is a leading retailer in the Midwest with a loyal customer base. We look forward to working with Marsh’s management team and its dedicated employees.”

Frank Lazaran has been appointed president and CEO of Marsh, effective immediately. This appointment is the consequence of Don Marsh’s previously announced resignation.

Lazaran has more than 30 years of regional supermarket experience and has held senior positions with Winn-Dixie and Randalls Food Markets, a division of Safeway.

“This transaction is a great opportunity for our shareholders, our employees and the future of Marsh Supermarkets,” said Don Marsh, outgoing chairman and CEO of Marsh Supermarkets. “For 75 years, Marsh has been an industry leader with an unwavering commitment to excellence in customer service and providing quality food products at reasonable prices. We are confident that Sun Capital’s financial resources and deep retail operating experience will provide Marsh with the opportunity and support to grow and further enhance this outstanding franchise.”