Home » Winning Bidders Named For 23 Lucky’s Stores Following Virtual Auction

Winning Bidders Named For 23 Lucky’s Stores Following Virtual Auction

Lucky's Market, PJ Solomon

Winning bidders for 23 Lucky’s Market stores were named following the March 26 court-supervised virtual auction, conducted by investment banking adviser PJ Solomon. Lucky’s Market is a natural foods chain based in Niwot, Colorado.

Bidders included Publix, Aldi, Southeastern Grocers, Dave’s Markets, Seabra’s, LM Acquisition Co. (Lucky’s founders Bo and Trish Sharon), Schnuck’s, Oryana Food Cooperative and Hitchcock’s. Dollar General was named the successful bidder for the company’s Florida distribution center. The combined value is approximately $29 million.

Six stores will continue to operate as a going concern, including the Lucky’s stores in North Boulder, Colorado; Fort Collins, Colorado; Cleveland, Ohio; Columbus, Ohio; Traverse City, Michigan; and Columbia, Missouri. 

Employment offers will be made to the approximately 500 team members at these six stores. 

“While our mandate is to maximize value, we are pleased that these stores and jobs will be preserved, particularly as they serve so many families and communities during this critical time,” stated Scott Moses, head of food retail and restaurants investment banking with PJ Solomon, following the auction.

PJ Solomon, headquartered in New York, New York, is acting as M&A investment banking advisor to Lucky’s.

Lucky’s Market announced Jan. 27 that it filed for Chapter 11 bankruptcy protection.

After the past two years of uncertainty and changed plans due to the COVID-19 pandemic, we all hoped that 2022 might bring back a sense of normalcy.

However, with government and independent data confirming 40 years of inflation highs and Wall Street entering a bear market, grocers now have new challenges to face.

In this webinar, we will hear from Todd Taylor of Neighborhood Fresh and Darlene Murphy of Metcalfe’s Market about why shopper loyalty is so important in this time of inflation.

Register Now To Attend

CPG + Grocery Retailers’ Rapid Response to Shifting Consumer Behavior Is Impressive and Ongoing

At every twist and turn, brands and retailers have responded to crisis and disruption with innovation, ingenuity, and reinvention. Until the next big thing pops up, many of the changes to the way consumers now shop for groceries and purchase CPG retail items expect to remain. Despite their nimbleness over the last two-plus years, brands and retailers must continue to improve to meet evolving expectations and demands of consumers.

Learn More From Vericast

Featured Photos

Featured Photo Barons Market Flagship Store
Point Loma Community
Huntington Beach, California
Share via
Copy link
Powered by Social Snap