Harps to acquire 20 stores, increase footprint 20%

PRESS RELEASE: SPRINGDALE, AR – Harps Food Stores, Inc. has entered into a purchase agreement to acquire twenty stores across northeastern Arkansas and southeastern Missouri from Town and Country Grocers of Fredericktown, Missouri, Inc. The transaction remains subject to ordinary due diligence including approval from the Town and Country shareholders.

The locations are as follows:

• Country Mart – Harrison, AR;
• Town & Country – Highland, AR;
• Town & Country – Thayer, MO;
• Cash Saver – West Plains, MO;
• Country Mart – Fredericktown, MO;
• Country Mart – Bonne Terre, MO;
• Country Mart – Potosi, MO;
• Country Mart – Park Hill, MO;
• ALPS Supermarket – Malden, MO;
• Town and Country – Newark, AR;
• Price Chopper – Pocahontas, AR;
• Country Mart – Kennett, MO;
• Town and Country – Dexter, MO;
• Country Mart – Jackson, MO;
• Country Mart – Piggott, AR;
• Country Mart – Marble Hill, MO;
• Town and Country – Clarkton, MO;
• Town and Country – Doniphan, MO;
• Town and Country – Bernie, MO; and
• Country Mart – Farmington, MO.

While the timing of the transaction has not been finalized both parties anticipate completing the transaction throughout this summer. “Opportunities like this are rare,” says Kim Eskew, President and CEO of Harps Food Stores.  “We are extremely excited about adding these stores to our Harps family. They will make a great addition to our company as we strive to continue to grow.”

Harps is a 100% employee-owned company which operates 92 stores in four states including: Arkansas, Oklahoma, Missouri, and Kansas. Harps is the largest employee owned company in the state of Arkansas and was founded by Harvard and Floy Harp in Springdale, Arkansas in 1930. Since then, the company has grown to employ over 4,500 associates.

Visit: www.harpsfood.com for additional information and company history.

Image sources are either licensed or customer-provided.