Schnucks Buys Columbia Centre Market Place
St. Louis-based Schnuck Markets Inc. has acquired Columbia Centre Market Place Inc., owned by the Koppeis family in Columbia, Ill., near the Gateway City.
“After 25 years of serving our community, it’s time to sell and give our employees career growth opportunities with a company like Schnucks," said Joe Koppeis, who built the 47,000-square-foot market and attached bank in 1989, and will retain ownership of the land on which the store sits. "My wife and I will turn our attentions to our other commercial real estate enterprises and we will remain landlords to the new Schnucks store."
Columbia Centre Market Place will close at noon Sunday and reopen as a Schnucks store on Jan. 16. The store's 70 associates will be offered employment under the Schnucks banner.
Schnucks: 'A Great Location For Us'
“The Market Place will be a great location for us in that we will be able to serve new customers and operate in close partnership with Schnucks Waterloo just under eight miles away," said Schnucks Chairman and CEO Scott Schnuck. "We respect the Koppeis family who, like Schnucks, are a family enterprise and share our sense of community.”
Schnuck added, “In this, our 75th anniversary year, we are thankful to area customers whose support has enabled us to expand into new areas. Schnucks remains committed to introducing more customers to our distinctive combination of quality, value and service.”
Schnuck says the transition will be as seamless as possible as both families will work together to minimize inconvenience. The Koppeis family will oversee an immediate sell down of discounted merchandise.
Founded in St. Louis in 1939, Schnuck Markets Inc. is celebrating 75 years of serving customers in 2014. The family-owned company started with a small confectionery in north St. Louis and now operates 100 stores and 95 in-store pharmacies in Missouri, Illinois, Indiana, Wisconsin and Iowa.