Nash Finch Company (Nasdaq: NAFC), a Minneapolis-based food distributor,
announced today that U Save Foods, Inc., a Nash Finch wholly-owned
subsidiary, has entered into an agreement to purchase the No Frills
Supermarkets. Fourteen stores are located in Nebraska, twelve of which
are in the Greater Omaha market; four stores are located in western
Iowa. No Frills is owned by seasoned retail executives, and led by Fred
Witecy, a former Nash Finch employee, who will rejoin Nash Finch
following the acquisition. After the transaction closes, Nash Finch will
own 24 supermarkets in greater Omaha, and 41 in the state of Nebraska.
The transaction is expected to be completed early in the third quarter
of 2012.
“We are excited to be joining with Nash Finch to create a stronger
retail presence in greater Omaha and to be part of the strong platform
for growth that Nash Finch offers. Having worked for Nash Finch
previously, I know from personal experience the benefit of what Nash
Finch can offer. Combining the purchasing power of the No Frills stores,
the Bag ‘N Save stores and the Nash Finch corporate owned stores, we
will be well positioned to deliver competitive prices and programs to
all of our Nebraska and Iowa customers,” commented Fred Witecy, CEO of
No Frills. “I want to thank all of our loyal employees and customers for
the support they have given us over the years and we look forward to the
opportunity to continue to earn that support for years to come,”
continued Witecy.
Alec Covington, Nash Finch President and CEO added, “I look forward to
welcoming the No Frills associates to Nash Finch and, in particular, to
welcoming Fred back to the Nash Finch family. We are excited about the
opportunities before us in Omaha and in greater Nebraska to offer retail
experiences that will delight our customers and energize our associates
to continue to provide the outstanding customer service our customers
have come to expect.”
About Nash Finch
Nash Finch Company is a Fortune 500 company
and one of the leading food distribution companies in the United States.
Nash Finch’s core business, food distribution, serves independent
retailers and military commissaries in 36 states, the District of
Columbia, Europe, Cuba, Puerto Rico, the Azores, Bahrain and Egypt. The
Company also owns and operates a base of retail stores, primarily
supermarkets under the Econofoods®, Family Thrift Center®, AVANZA®,
Family Fresh Markets®, Savers Choice™ and Sun Mart® trade names. Further
information is available on the Company's website at www.nashfinch.com.
