Friday, September 2, 2011

Statement from Kroger on Schnucks Purchase

Posted By on Fri, Sep 2, 2011 at 2:39 PM


The Commercial Appeal broke the story earlier today that Kroger would be acquiring eight area Schnucks.

Kroger issued its official statement this afternoon. All of the stores acquired, including the Midtown Schnucks, will be converted into Krogers.

Kroger's official statement follows:

Kroger Acquires 8 Memphis Area Schnucks Stores

Friday, September 2, 2011, Memphis — The Memphis-based Kroger Delta Division, a division of The Kroger Co. (NYSE: KR), announced today its purchase of eight Memphis area Schnucks stores that it intends to convert and re-open under the Kroger name over the next few weeks.

“For over 60 years, Kroger has proudly served the Memphis community,” said Mark Prestidge, Kroger Delta Division president. “Kroger has demonstrated its commitment to the Memphis area by investing over $70 million on remodels, expansions and fuel centers over the last five years. We continue to focus on upgrading our store base in an effort to provide our customers the best shopping experience possible. With this acquisition, we are pleased to be able to provide more convenient locations for our customers to shop at in the Memphis area.”

Currently, Kroger operates 37 stores in the Memphis metropolitan area. Today’s announcement will increase the number of Kroger stores to 43, with two of the acquired Schnucks locations replacing two smaller existing Kroger locations.

The following Schnucks locations will be converted to Kroger:

1761 Union Avenue, Memphis, TN
1212 East Shelby Dr., Memphis, TN
799 Truse Parkway, Memphis, TN
576 South Perkins Rd., Memphis, TN
7735 Farmington Blvd., Germantown, TN
9025 US Highway 64, Lakeland, TN
2942 Kirby Whitten Rd., Bartlett, TN
3926 Goodman Rd., Horn Lake, MS

The Schnucks Store at 1212 East Shelby Drive in Memphis will be converted and re-open as Kroger and replace a smaller Kroger Store at 1234 Finley in the Whitehaven area of Memphis. The Schnucks Store at 9025 US Highway 64 in Lakeland will also be converted and re-open as Kroger and replace a smaller Kroger Store at 9050 US Highway 64 in Lakeland.

“We plan to convert these stores and re-open within two weeks after they close. Our primary goal is to minimize the inconvenience to our customers as we transition the stores to Kroger.” Mr. Prestidge said. “While the acquired stores will be temporarily closed during the conversion process, the pharmacies and in-store banks will be accessible and remain open to customers during regular business hours.”

Pharmacy customers in the Schnucks locations that will close permanently will have their prescriptions available at the nearest Kroger pharmacy to avoid any disruption in service. During the conversion process, all Schnucks pharmacy customers will receive notification from Kroger to inform them of their new Kroger pharmacy location and information about how to move their records to a more convenient Kroger location.

Customers with questions are welcome to contact Kroger at 1-800-KROGERS.

Kroger has committed to interviewing Schnucks employees who wish to apply with Kroger. “We are always looking for great people to become part of the Kroger team. We have positions available in many of our stores and we will also need to staff the newly acquired stores,” said Mr. Prestidge. “We will be relying on many of the Schnucks employees to fill those positions.”

Kroger's Delta Division, based in Memphis, TN currently operates 109 stores and 68 fuel centers in five states under the Kroger banner in Memphis and west Tennessee, Arkansas, Mississippi, southern Missouri, and southwest Kentucky. Last year, Kroger's Delta Division and its customers contributed more than $3.5 million in support of their local communities. Kroger focuses its community marketing efforts on hunger relief, education and women’s health issues.

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