Minyard to sell 37 stores,
Carnival brand to group
Jul 24, 2008 9:52 AM
Minyard Food Stores Inc. has agreed to sell its Carnival Super Market brand and 37 of its stores to a group led by The Grocers Supply Company Inc. The group includes Houston TX-based retailer Fiesta Mart Inc. and many of Grocers Supply’s local area retail grocer customers.
According to Minyard management, Grocers Supply’s decision to acquire the Carnival brand and stores confirms the chain’s strategic focus on the burgeoning Latino food market.
Grocers Supply entered into an agreement to purchase 23 Carnival supermarkets, five Minyard, five fuel centers, and nine Sack’n Save warehouse stores from Minyard.
Fiesta Mart liklely will acquire 11 of these stores, and other retail customers of Grocers Supply will acquire most of the remaining stores. All these acquisitions are expected to be completed by the end of 2008. Grocers Supply, a family-owned business started in 1923, is one of the largest food wholesalers in the Southwest. It serves most of the independent grocery stores in the Dallas–Fort Worth Metroplex and owns Fiesta Mart, a supermarket chain of 50 stores serving the Houston, Dallas–Fort Worth, and Austin TX markets.
Although Minyard will transfer or terminate all of its store associates before the sale of each store, both Minyard and Grocers Supply expect most of the affected workers will be employed by the new store owners.
The company will continue to operate its remaining 21 Minyard stores, which serve a different customer base than its Carnival stores.View more food distributors news from Refrigerated Transporter.
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