Kroger buys Zionsville Marsh stores

A Kroger subsidiary made an offer on 11 Marsh stores including this one in Indianapolis at Monday's bankruptcy auction

Kroger Co. and Fresh Encounter were the successful bidders for stores operated by Marsh Supermarkets in the latter's auction in a Delaware Federal Bankruptcy Court Monday.

The Tipton Marsh is now the only supermarket in Tipton County.

According to documents filed Tuesday in bankruptcy court in DE, 26 of the 44 Marsh stores that were put up for auction following the in company bankruptcy proceeding filings were sold.

Marsh sold its pharmacy assets to a CVS subsidiary in April.

Spokesman Tom Mulligan says a DE bankruptcy court on Wednesday conditionally approved the sale of 11 stores to Kroger Co. subsidiary Topvalco Inc. for $16 million and 15 stores to Findlay, Ohio-based Fresh Encounter parent Generative Growth LLC for about $8 million.

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None of the Marsh locations in Anderson were sold through the auction process as of Tuesday and the fate remains unknown.

The $16 million Kroger has agreed to pay for 11 stores did not include any inventory. As a condition of the deal, the 37 Marsh stores with pharmacies were precluded from operating pharmacies for five years, the newspaper noted, citing a recent bankruptcy court filing.

Marsh released the winning bidders who will take ownership of 26 Marsh properties across IN and OH, including the two IN Zionsville.

The sales require approval by the bankruptcy court and have to overcome an objection from CVS Health.

Winning Bidder Topvalco, Inc. bought the leases for 10679 N. Michigan Road and 5 Boone Village, both in Zionsville, along with several other stores.

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