Lena's to Buy 2 Milwaukee Jewel-Oscos
MILWAUKEE - Lena's Food Market here has agreed to buy two Jewel-Osco stores on the north side of the city that were tabbed for closure last month by Supervalu.
Lena's said it intends to convert the stores to its store format and reopen them in the spring. Terms of the transaction were not disclosed.
The deal will give the Milwaukee-based Lena's its fifth and sixth locations in the city, Greg Martin, a second-generation owner of Lena's Food Market, was quoted as saying in local reports.
Supervalu filed layoff notices last week with the Wisconsin Department of Workforce Development signaling its intention to close the stores, along with eight other Jewel-Osco locations, beginning March 23. A company spokeswoman, however, said at the time that the company was still in discussions with potential buyers for those locations.
On Jan. 5, Supervalu said it was exiting the Milwaukee market amid "seeking strategic alternatives" for its 15 Jewel-Osco stores. Five of the Jewels were subsequently sold to Roundy's, which reopened the units last week as Pick 'n Saves.
Lena's said it intends to convert the stores to its store format and reopen them in the spring. Terms of the transaction were not disclosed.
The deal will give the Milwaukee-based Lena's its fifth and sixth locations in the city, Greg Martin, a second-generation owner of Lena's Food Market, was quoted as saying in local reports.
Supervalu filed layoff notices last week with the Wisconsin Department of Workforce Development signaling its intention to close the stores, along with eight other Jewel-Osco locations, beginning March 23. A company spokeswoman, however, said at the time that the company was still in discussions with potential buyers for those locations.
On Jan. 5, Supervalu said it was exiting the Milwaukee market amid "seeking strategic alternatives" for its 15 Jewel-Osco stores. Five of the Jewels were subsequently sold to Roundy's, which reopened the units last week as Pick 'n Saves.