HIGHLAND, IN – The legacy of one of Indiana’s largest locally-owned supermarket chains is undergoing a major change, as the banner’s parent company announced that a majority of the stores currently under the Strack & Van Til name will be sold. The Central Grocers Cooperative released the information yesterday.

"While we don't yet have a signed deal, the proposed transaction calls for 22 stores to be sold as going concerns, which means they would continue to operate and we expect the buyer would offer employment opportunities to most of the stores' current personnel," CEO Jeff Strack said in a statement to The Times of Northwest Indiana.

Strack & Van Til is planning to sell off 22 of its stores to a currently unidentified buyer, where they will remain open under its new ownership. The deal also involves the closure of 9 of the chain’s Ultra Foods discount banner stores, according to Inside Indiana Business.

This news comes after Strack & Van Til last made headlines when it announced the closure of five of its stores earlier this spring. The chain is well known in its region after 58 years in business.

“We appreciate the great impact a store closure has on associates, customers, vendors and the community, and our team is committed to minimizing that impact in every way we can,” Strack said.

The Ultra Foods locations are closing from underperformance as a condition of the sale. The Times noted that these stores are all housed in the Chicago suburbs, which company executives have asserted as a crowded and competitive market.

Who is the buyer and how will the sale affect the buy-side landscape? AndNowUKnow will report.

Strack & Van Til