Schnuck Markets said it has acquired Columbia Centre Market Place, a family-owned supermarket here. Terms were not disclosed.
St. Louis-based Schnucks said it will close the 47,000-square-foot store on Jan. 12, and reopen it as a Schnucks store on Jan. 19. Over the next few days, Schnucks said it will to speak to all 70 employees about employment opportunities.
Schnucks is buying the grocery store and attached Commerce bank space only. The sale does not include the land or other properties.
Joe Koppeis, who built store in 1989, said the decision to sell is in the best interest of his family and employees.
“After 25 years of serving our community, it’s time to sell and give our employees career growth opportunities with a company like Schnucks,” he said in a statement. “My wife and I will turn our attentions to our other commercial real estate enterprises and we will remain landlords to the new Schnucks store."
Scott Schnuck, chairman and chief executive officer, Schnuck Markets, said, “The Market Place will be a great location for us in that we will be able to serve new customers and operate in close partnership with Schnucks Waterloo just under eight miles away. We respect the Koppeis family who, like Schnucks, are a family enterprise and share our sense of community.”
Schnucks is celebrating its 75th anniversary this year.
