Schnuck Markets Inc. has acquired Illinois-based Columbia Centre Market Place Inc., a 25 year-old grocery store in Columbia. Terms of the transaction were not disclosed. The sale includes the attached 2,500 square foot Commerce bank space, but not the land or other properties, according to a press release.
Joe and his wife, Patty Koppeis, own the 45,000 square foot grocery. When asked about his decision to sell the store, Joe said that while the store “has done well and made money,” he and his wife decided it might be a good route to sell the store after various interested buyers approached them, according to St. Louis Post-Dispatch. The couple decided that Schnucks would be the best option.
“I know they’ll treat our employees well… And they have the resources to provide more advancement for them,” said Joe, adding that Schnucks will likely continue some of his grocery store’s family traditions.
Scott Schnuck, chief executive of the grocery chain, said, “The Market Place will be a great location for us in that we will be able to serve new customers and operate in close partnership with Schnucks Waterloo just under eight miles away. We respect the Koppeis family who, like Schnucks, are a family enterprise and share our sense of community.” The company will also be speaking to the 70 employees at the store about employment opportunities at the new Schnucks location, which will open at 9:00 AM on Thursday, January 16.
