The Strack family, the Van Til family and a few others have put in a successful bid for 20 Strack & Van Til stores, The Northwest Indiana Times reports.
It has not been disclosed how much the new owners, called the Indiana Grocery Group, will spend to buy the stores. The group bid for the stores and other assets. The Indiana Grocery Group includes families that owned the stores before Strack & Van Til was sold to grocery wholesale cooperative Central Grocers in 1997. Central Grocers filed for bankruptcy in May.
Central Grocers had entered into an asset purchase agreement with Jewel-Osco, a subsidiary of Albertsons Cos. in a court-supervised sale process for 19 Strack & Van Til stores and for certain other assets. Jewel-Osco’s offer totaled $100 million.
The U.S. Bankruptcy Court Northern District of Illinois will have to approve the sale of the 20 stores to the Indiana Grocery Group at a hearing next Tuesday, according to The Times.