Content area
Full text
Fresh Encounter, Inc. celebrated 50 years of continuous service to Ohio and Indiana residents in 2014, operating under the banners of Great Scot, Community Markets and Sack n' Save. In December, the company acquired Chief Super Market, Inc., leading the independent grocery chain to incorporate all Chief Super Market retail locations, Boots BBQ, Chief Kitchen, and Chief Smokehouse operations.
The Regional Growth Partnership played a central role in the acquisition of Chief Super Markets by Fresh Encounter. According to president and CEO Dean Monske, the RGP facilitated a connection between Fresh Encounter and the USDA, the latter which provided a loan guarantee to solidify the deal and retain corporate headquarters in northwest Ohio.
"This acquisition will be transformative for Fresh Encounter, Inc.," said Michael Needler, Sr., CEO and president of Fresh Encounter, Inc. "The Chief locations will increase our retail footprint in Ohio as well as onboard premier grocery retail locations into our operation."
Fresh Encounter operates 25 stores in Ohio and Indiana, while Chief Supermarkets operated 11 stores in northwest Ohio.
"It is difficult to create a merger of this size in such close proximity and not overlap retail locations, but this is one of those rare instances when we can consolidate resources without sacrificing any retail operations," said Needler. "This is a rare instance where the stores from the two companies were close in proximity but none of them directly share customers. We share a lot of brand equity, we really don't have any situation where we're working to consolidate the market."
Chief...