Fareway Acquires 2 Brothers Market Stores in Iowa
Fareway Stores Inc., which has been in growth mode with the construction of several new stores across its footprint, is expanding through acquisitions, too. The retailer has agreed to buy two Brothers Market stores in the greater Cedar Rapids area of its home state of Iowa.
The Brothers Market locations are at 1022 Skyler Street in the town of Denver and at 930 Commercial Street in the village of Lisbon. Brothers Jared, Jay and Darian DeVries opened their first aptly-named Brothers Market in Parkersburg, Iowa in 2008 after a devastating tornado leveled that town’s only supermarket and grew the business to include 16 stores.
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The spinoff of two Brothers Market sites, in a deal expected to close in March, will help Fareway extend its presence in the region. “As Fareway grows, we are committed to serving vibrant communities of varying sizes,” said Fareway CEO Reynolds Cramer. “We want to thank the DeVries family and city leaders in both communities for having confidence in Fareway to be their local grocery store.”
The DeVries family expressed their own gratitude. “For over a decade, Brothers Market has been proud to serve the communities of Denver and Lisbon, Iowa,” remarked Jay DeVries. “Our family-owned business would like to thank our customers and the community for their support through the years and we know they are in good hands for many more as we pass the baton to Fareway Meat and Grocery.”
Fareway will spend the next few weeks updating the two stores, which will temporarily close during construction. According to Fareway, the retailer has been in contact with employees at both locations to discuss employment opportunities both during the transition and after reopening.
2024 was a busy year for Fareway. The Midwest retailer opened at least four new stores this past year and plans to open six more outposts in 2025. A few months ago, Fareway officially moved into its new 42,000-square-foot headquarters in Johnston, Iowa. More than 150 employees work at that revamped building. "Previously our team members were separated between two campuses in Boone," Cramer explained. "Now, we can collaborate in a cutting-edge space as we grow into the future."
Family-owned Fareway Stores Inc. employs more than 13,000 associates at its approximately 140 stores in Iowa, Illinois, Kansas, Minnesota, Missouri, Nebraska and South Dakota. The company is No. 87 on The PG 100, Progressive Grocer’s 2024 list of the top food and consumables retailers in North America.
