CINCINNATI -- Kroger Co. here said last week that it has signed a definitive purchase agreement to acquire the assets of The John C. Groub Co., Seymour, Ind., for an undisclosed amount of cash and stock.
o 47,000 square feet, with an average of 25,000 square feet. All are in small communities, the largest of which is Columbus, Ind., with a population of 40,000. The chain's annual volume approaches $250 million, observers said.
Groub operates three store banners: 25 conventional Jay C Stores, four Foods Plus superwarehouse stores and one Ruler limited assortment store. It has two Jay C stores under construction. Groub also operates a 180,000-square-foot, full-service warehouse. Kroger said it will retain the existing store names and management, and operate the company as a wholly owned subsidiary.
Steve Kiel, director of corporate communications for Groub, said the advantage of being owned by Kroger "will be the ability to grow and expand, possibly into northern Kentucky, southeast Illinois or further into southern Indiana."
Lynn Marmer, a Kroger spokesperson, said the acquisition of Groub fills "an untapped market for Kroger" between its central marketing area based in Indianapolis and its Louisville marketing region.