CHICAGO, IL - A Wisconsin company operating Piggly Wiggly Midwest has now purchased the remaining stores of the family-owned Illinois chain Joe Caputo & Sons.
Up for auction last Thursday, the three stores that account for a total of 267,000-square-feet of retail space on 30 acres went for a total of $32 million, according to the Chicago Tribune. With the locations, Piggly Wiggly Midwest owners also purchased the assets.
According to the company website, while Piggly Wiggly, LLC, an affiliate of C&S Wholesale Grocers, Inc., operates more than 600 Piggly Wiggly stores in 17 states, all Piggly Wiggly® stores are independently owned and operated.
Piggly Wiggly Midwest is owned by the Butera family, also owners of Butera Market stores and, now, what remains of Joe Caputo & Sons.
Commenting on the acquisition, Chairman and CEO of Piggly Wiggly Midwest, Paul Butera, said that he intends to keep all three stores operating with current staff.
The executive has operated in Chicago’s grocery business for decades, and expressed hope for the locations.
"They've done a very good job with the deli, meat, and produce, not so much with the grocery (department)," Butera said, according to the Tribune.
While the bid is made and one gavel has fallen, there is still one more to go. The purchase will not be final until it receives court approval. An estimated date for this was not released, so keep checking in with AndNowUKnow.
