Hannaford Buying Four Graves Super Markets Units
SCARBOROUGH, Maine -- Hannaford Bros. Supermarkets, based here, is in the process of buying four of the five stores owned by independent Graves Super Markets, according to published reports. This week Graves is turning over ownership of three of the four stores while keeping the company's home location on Presque Isle, Maine in Aroostook County.
The purchase is expected to close Friday, according to company president Robert Graves Jr. Operation of the three stores, located in Camden, Dover-Foxcroft, and Hampden, Maine, in addition to a location in Bar Harbor, will be taken over by Hannaford by the end of the year, he added.
Hannaford additionally plans to buy the Camden shopping plaza in which one of the Graves stores is located.
Terms of the sales were not revealed.
Graves Supermarket was founded in 1935 and is now operated by the family's third generation. As to why the they have decided to sell the properties, based on an existing verbal agreement they had with Hannaford to sell the stores in question at an appropriate juncture, Robert Graves Jr. told the Bangor Daily News, "We just decided it was time."
Hannaford s.v.p. Art Aleshire said in an earlier statement, "Hannaford and the Graves family have enjoyed a long-term relationship and we look forward to continuing the tradition of exceptional customer service, quality products, variety, and value that Graves' customers have come to expect."
Dana Edwards, who worked for Hannaford for 30 years and is currently Graves' director of operations, intends to lease and operate the Hampden and Dover-Foxcroft stores. Edwards has said he'll retain the employees at the two stores, and Hannaford intends to employ the associates at the Bar Harbor and Camden locations, noted Robert Graves Jr., who added that a total of 350 people work at the four stores.
The purchase is expected to close Friday, according to company president Robert Graves Jr. Operation of the three stores, located in Camden, Dover-Foxcroft, and Hampden, Maine, in addition to a location in Bar Harbor, will be taken over by Hannaford by the end of the year, he added.
Hannaford additionally plans to buy the Camden shopping plaza in which one of the Graves stores is located.
Terms of the sales were not revealed.
Graves Supermarket was founded in 1935 and is now operated by the family's third generation. As to why the they have decided to sell the properties, based on an existing verbal agreement they had with Hannaford to sell the stores in question at an appropriate juncture, Robert Graves Jr. told the Bangor Daily News, "We just decided it was time."
Hannaford s.v.p. Art Aleshire said in an earlier statement, "Hannaford and the Graves family have enjoyed a long-term relationship and we look forward to continuing the tradition of exceptional customer service, quality products, variety, and value that Graves' customers have come to expect."
Dana Edwards, who worked for Hannaford for 30 years and is currently Graves' director of operations, intends to lease and operate the Hampden and Dover-Foxcroft stores. Edwards has said he'll retain the employees at the two stores, and Hannaford intends to employ the associates at the Bar Harbor and Camden locations, noted Robert Graves Jr., who added that a total of 350 people work at the four stores.