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Lund Food Holdings Acquires Rick's Markets

MINNEAPOLIS - Lund Food Holdings, Inc., parent company to Lunds and Byerly's, said this week that it completed the purchase agreement April 16 for the local Rick's Markets chain, which consisted of three locations in Plymouth, Minn.; Navarre, Minn.; and Minneapolis.

"We are pleased to obtain Rick's stores because they provide us access to great customers in ideal communities," said Tres Lund, president and c.e.o. of Lund Food Holdings, Inc. "This purchase continues our company's strategic growth and strengthens our market share in the Twin Cities."

Lund Food Holdings officially assumed operations April 18 of the 40,000-square-foot Plymouth location, the 22,300-square-foot Navarre location, and the 11,900-square-foot Minneapolis location. Current plans are to operate all three locations as Rick's Markets, with the possibility of conversion to a Lunds format in the future.

"By continuing to operate these stores as Rick's Markets, it allows us the opportunity to get to know Rick's customers so we can learn how to best serve them as well as Rick's employees," Lund said. "Our goal is to make this transition as seamless as possible."

Rick's employed 190 people, all of which were immediately offered a position at Lund Food Holdings following the completed purchase.

Lund Food Holdings, Inc., parent company of Lund and Byerly's, operates eight Lunds, 12 Byerly's, and now three Rick's Markets in the Twin Cities and surrounding area.
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