Nash Finch Company (Nasdaq: NAFC), a Minneapolis MN-based food distributor, announced that U Save Foods Inc, a Nash Finch wholly owned subsidiary, has entered into an agreement to purchase the No Frills Supermarkets.
Fourteen stores are in Nebraska, 12 of which are in the greater Omaha market; four stores are in western Iowa. No Frills is owned by retail executives and led by Fred Witecy, a former Nash Finch employee, who will rejoin Nash Finch after the acquisition. After the transaction closes, Nash Finch will own 24 supermarkets in greater Omaha, and 41 in Nebraska. The transaction is expected to be completed early in the third quarter of 2012.
Nash Finch’s core business, food distribution, serves independent retailers and military commissaries in 36 states, the District of Columbia, Europe, Cuba, Puerto Rico, the Azores, Bahrain, and Egypt. The company also owns and operates a base of retail stores, primarily supermarkets under the Econofoods, Family Thrift Center, AVANZA, Family Fresh Markets, Savers Choice, and Sun Mart trade names.
Further information is available at www.nashfinch.com.
