Kroger beefs up presence in Memphis market with Schnucks acquisition
MEMPHIS — The Memphis-based Kroger Delta Division, a division of Kroger on Friday announced its purchase of eight Memphis-area Schnucks stores. In addition, Kroger has acquired seven convenience stores that will be remodeled under the Kwik Shop banner and will be operated by Tom Thumb, a wholly-owned subsidiary of Kroger. The Schnucks grocery stores will be converted and re-opened under the Kroger name over the next few weeks.
"For over 60 years, Kroger has proudly served the Memphis community," stated Mark Prestidge,Kroger Delta Division president. "Kroger has demonstrated its commitment to the Memphis area by investing more than $70 million on remodels, expansions and fuel centers over the last five years."
Currently, Kroger operates 37 stores in the Memphis metropolitan area. The Schnucks' acquisition will bring that number to 43, with two of the acquired Schnucks locations replacing two smaller existing Kroger locations. The market will be new for Tom Thumb, which currently operates 116 stores in Florida and Alabama.
"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," 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."