Marsh Seeks OK to Sell Stores to Kroger, Fresh Encounter Cos

A Kroger subsidiary made an offer on 11 Marsh stores including this one in Indianapolis at Monday's bankruptcy auction

A Kroger subsidiary made an offer on 11 Marsh stores including this one in Indianapolis at Monday's bankruptcy auction

Earlier this month, Marsh closed the store on Broadway in Anderson.

Two Ohio-based firms offered to buy more than half of the remaining Marsh grocery stores.

CVS acquired the Marsh pharmacy accounts and inventory for $38 million.

The paperwork filed for the judge's approval indicates that Marsh is potentially selling 11 "core" stores to the Kroger subsidiary for the amount of $16 million.

The next hearing on the proposed sale is tomorrow in federal bankruptcy court in Delaware.

Fresh Encounter now has 34 stores in OH and in, including Great Scot, Community Markets and Sack n' Save, to 44 stores. The company wants to pay $8 million for the four Marshes left in OH and 11 other in stores.

Generative Growth agreed to buy two Indianapolis stores; other IN stores IN Columbus, Elwood, Greensburg, Hartford City, Marion, New Palestine, Pendleton, Richmond and Tipton; and OH stores IN Eaton, Middletown, Troy, and Van Wert.

The other bidder is a corporation called Generative Growth II, which owns Fresh Encounter.

The two companies want the option of opening pharmacies when they rebrand the 26 stores they've offered to buy. As a condition of the deal, the 37 Marsh stores with pharmacies were precluded from operating pharmacies for five years, the newspaper noted, citing a recent bankruptcy court filing.

The deal leaves no buyer for 18 other Marsh stores still open in IN, including ones in and around Indianapolis, Carmel, Lafayette and Kokomo. The deal would result in the sale of 15 stores for $8 million.

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