Niemann Foods Reported Planning to Buy Jewel Stores
QUINCY, Ill. -- Niemann Foods Inc. here is the potential buyer of two Jewel-Osco stores in Springfield, Ill., according to published reports.
Employees of the stores at 2777 S. Sixth St. in Jewel-Osco Plaza and 1903 W. Monroe St. in Fairhills Mall were notified Thursday of a pending change in ownership.
The company released a short statement late last week confirming the proposed buyout. "Niemann has entered into an agreement to purchase the assets of the two Jewel-Oscos in Springfield," the statement said. "No further comments are available at this time, pending the confidentiality and due diligence...requirements of the deal."
The company said it would provide further details as soon as possible.
According to the Niemann Web site, the family-owned company has more than 60 stores in Illinois, Missouri and Iowa, including Cub Foods, County Market, County Market Express, IGA and Niemann Market.
Niemann-owned stores in Springfield are the Cub Foods at 3001 S. Veterans Parkway and 2833 South Grand Ave. E.
Cerberus Management Group of New York acquired the Springfield Jewel-Oscos last month, after the former parent, Albertson's Inc., sold most of its supermarkets nationwide to Supervalu Inc.
Employees of the stores at 2777 S. Sixth St. in Jewel-Osco Plaza and 1903 W. Monroe St. in Fairhills Mall were notified Thursday of a pending change in ownership.
The company released a short statement late last week confirming the proposed buyout. "Niemann has entered into an agreement to purchase the assets of the two Jewel-Oscos in Springfield," the statement said. "No further comments are available at this time, pending the confidentiality and due diligence...requirements of the deal."
The company said it would provide further details as soon as possible.
According to the Niemann Web site, the family-owned company has more than 60 stores in Illinois, Missouri and Iowa, including Cub Foods, County Market, County Market Express, IGA and Niemann Market.
Niemann-owned stores in Springfield are the Cub Foods at 3001 S. Veterans Parkway and 2833 South Grand Ave. E.
Cerberus Management Group of New York acquired the Springfield Jewel-Oscos last month, after the former parent, Albertson's Inc., sold most of its supermarkets nationwide to Supervalu Inc.