Printer Friendly

NASH FINCH TO ACQUIRE EASTER STORES

 MINNEAPOLIS, April 7 /PRNewswire/ -- Nash Finch Company (NASDAQ: NAFC) and Easter Enterprises, Inc., Des Moines, Iowa, today announced that they have reached an agreement in principle whereby Nash Finch would acquire a 16-store supermarket group owned and operated by Easter Enterprises and an Easter-affiliated company. Eleven of the stores are located in Iowa, three in Illinois and two in Missouri.
 Nash Finch plans to operate the stores as a group under the continuing management of Dennis Easter, president of Easter Enterprises, and his staff. No changes are presently anticipated in store operating procedures or personnel. Current store names will continue to be used wherever possible.
 Harold Finch, chairman and chief executive officer of Nash Finch, noted that Nash Finch has successfully operated food stores in Iowa for over 20 years and has been a food wholesaler in the state for a much longer time. "Over the years, we have developed a great deal of respect and appreciation for the Easter organization and the successful retail operation they have built. We are very pleased that they have chosen to become a part of Nash Finch Company," said Finch.
 Several factors led to the decision to seek an opportunity to join with a larger company, according to Easter, including an industry trend toward consolidation and the need to invest additional capital in order to remain competitive. "Nash Finch has the size and resources we were seeking, and its operating philosophy of `Customer Satisfaction is Always First!' is very compatible with Easter's philosophy, so we anticipate an excellent fit between the two organizations," said Easter.
 Completion of the transaction is subject to the signing of a definitive contract and customary regulatory approvals. No purchase terms were disclosed.
 Nash Finch is one of the largest food wholesalers in the country, supplying products to over 700 affiliated and independent supermarkets and some 5,000 other independent retailers and military bases in 29 states. The Company also owns and operates approximately 90 supermarkets, warehouse stores and mass merchandise stores in 13 states and produce marketing subsidiaries in California.
 -0- 4/7/93
 /CONTACT: Norman R. Soland of Nash Finch, 612-844-1153/
 (NAFC)


CO: Nash Finch Company; Easter Enterprises, Inc. ST: Minnesota, Iowa IN: FOD REA SU: TNM

KH -- MN007 -- 3931 04/07/93 16:52 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 7, 1993
Words:379
Previous Article:SWIFT TRANSPORTATION ANNOUNCES OFFER TO PURCHASE SUBSTANTIALLY ALL OF THE TRUCKLOAD VAN DIVISION ASSETS OF VERNON MILLING COMPANY
Next Article:/C O R R E C T I O N -- MB-CARADON/
Topics:


Related Articles
ROYALE INVESTMENTS BUYS NORTH DAKOTA SUPERMARKET
NASH FINCH ACQUIRES FOOD FOLKS STORES
Nash Finch Company Begins Cash Tender Offer for Super Food Services
Nash Finch Company Completes Tender Offer For Super Food Services, Inc.
Nash Finch Completes Acquisition of Erickson's Supermarkets.
Nash Finch Company Gains Wholesale Business in Michigan.
Nash Finch to Acquire Fairway Foods Grocery Wholesale Division.
Nash Finch Company to Acquire 12 Supermarkets in Nebraska.
Nash Finch Announces Sale of Southeast Region Stores; Divestiture Focuses Company's Retail Strategy in the Upper Midwest.
Nash Finch in Discussions to Acquire U Save Food's 14 Supermarkets.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters