Today is the final day for interested buyers to make an offer on the 19 remaining Strack & Van Til stores and any other remaining assets of Central Grocers, its Joliet, Ill.-based parent company, the Times of Northwest Indiana has revealed.
Albertsons Cos. banner Jewel-Osco, which serves the Chicago metropolitan area, already has placed a $100 million bid for the stores and certain other assets, serving as a “stalking horse bidder,” although others have an opportunity to outbid the chain. Additionally, Central Grocers is evaluating proposals to acquire its Joliet distribution center and six additional Raceway real estate assets, as it winds down wholesale distribution.
The Times reported sources close to the matter calling the auction process “competitive, with multiple bidders for various assets,” although the company declined to say how many bids it has received.
Meanwhile, Wood Dale, Ill.-based auction house HyperAMS LLC and New York-based asset appraisal firm Tiger Group are liquidating Central Grocers’ inventory through an orderly wholesale wind-down sale now underway. More than $20 million in dry grocery products, frozen foods, and a limited selection of fresh meat and produce are selling for up to 50 percent off wholesale prices, with inventory including such major brands as General Mills, Kraft, Stouffers, Dannon, Heinz and Pepperidge Farm, along with Hispanic products and items under the cooperative’s Centrella private label.
Offers, inquiries or inspection requests can be submitted to John Mitchell at [email protected] or 815-553-8821.