INDIANAPOLIS,IN - Marsh Supermarkets has some big plans for growth in the works, including a facelift to more than 50 of its 73 existing stores and 13 new locations, all by 2018.
"We are being really aggressive and looking for potential acquisition partners," CEO Tom O'Boyle told The Indianapolis Star. "Whether smaller chains or larger chains, we think we're in position to look for acquisitions to expand the Marsh brand."
This plan for growth comes in the face of rumors that the chain could soon go or is already up for sale, according to the report. But while the company is not ready to specify the locations it’s planning to purchase, O’Boyle did tell The Indianapolis star that the first pair could be bought as soon as the next several weeks.
The confidence for this aggressive plan for growth comes with the CEO’s assurance that the company’s sales have been on the rise since he took the reigns in late 2012. He is taking that momentum and implementing a plan to not only grow the brand, but also to improve its current offerings. 52 of its 73 stores will receive some renovation during this two-year period. "I challenge any other company to say they're going to remodel, in some shape or form, 70 percent of their stores over two and a half years," O'Boyle said.
Marsh has reportedly spent tens of millions of dollars on store improvements over the past 18 months, including full remodels on seven stores and improvements on 16 stores, with 30 more planned for 2016, according to O’Boyle.
Despite the competitive market, the grocer says it is the best in fresh for Indianapolis’ supermarket offerings and will continue to vie for consumer favor.
O’Boyle told The Indianapolis Star he’s looking to open three new locations in the next year, with five more each in the two years following. While he acknowledged additional stores could also be shuttered, this would be the biggest move the brand has made in several years.
