News

Actions

Kroger subsidiary Topvalco, Generative Growth II agree to buy 26 Marsh stores

Posted: 1:35 PM, Jun 13, 2017
Updated: 2017-06-14 16:10:28-04
2 Ohio companies agree to buy 26 Marsh stores

INDIANAPOLIS -- Two Ohio-based companies have separately agreed to buy 26 Marsh locations, according to documents filed Tuesday in bankruptcy court.

One company, Topvalco, is a subsidiary of Kroger. The other is Generative Growth II, which recently bought some stores of Ohio-based supermarket chain Remke, according to Cincinnati.com. 

Topvalco has agreed to buy the following 11 Marsh locations:

  • 1825 Kinser Pike, Bloomington
  • 843 E. Main St., Brownsburg
  • 10679 N. Michigan Road, Zionsville
  • 5 Boone Village, Zionsville
  • 2904 S. State Road 135, Greenwood
  • 123  S. Kingston Drive, Bloomington
  • 1500 W. McGalliard, Muncie
  • 1435 W. 86th St., Indianapolis
  • 715 S. Tillotson, Muncie
  • 227 W. Michigan St., Indianapolis
  • 12520 E. 116th St. Fishers

Generative Growth II has agreed to buy the following 15 locations:

  • 5802 W. U.S. 52, New Palestine
  • 1013 Forest Ave., Marion
  • 1107 S. Shannon, Van Wert, Ohio
  • 11625 Fox Road, Indianapolis
  • 3075 E. 25th St., Columbus
  • 621 N. University Blvd., Middletown, Ohio
  • 982 N. Market, Troy, Ohio
  • 1711 N. Walnut, Hartford City
  • 223 Aukerman, Eaton, Ohio
  • 1515 S. State Road 37 Elwood
  • 899 E. Jefferson, Tipton
  • 3015 W. U.S. 36, Pendleton 
  • 320 N. New Jersey St., Indianapolis
  • 501 National Road W., Richmond
  • 736 W. Main St., Greensburg

Topvalco will pay $16 million for 11 stores. Generative Growth II will pay $8 million for the other 15 stores.

In early May, Marsh officials filed for Chapter 11 bankruptcy and said the remaining 44 locations could close if the company did not find a buyer.

In the last several months, many stores closed around central Indiana, which the company said was due to poor performance and increased competition.

The auction was for bidders who were considered qualified to operate assets of the company.

Liquidation sales at the stores not listed in this article begin Thursday, June 14 and will go until the stores run out of inventory and close. 

One store of note that will be purchased is the 2-year-old downtown Marsh store on Michigan Street in downtown Indianapolis. The loss of that store would have created food access problems for a burgeoning population in the city's center.

Shoppers in the area said they are happy the grocer is staying.

"That's really good news. I'm really happy to hear it because I choose this store," said Doug Fox. "There are a couple other places, they are not necessarily closer, but this is actually an enjoyable location to shop at. You get to experience the city too."

RELATED |  Marsh files for Chapter 11 bankruptcy  |  Marsh Supermarkets could close all locations if no buyer is found  |  Marsh to close longtime Indianapolis store at the end of January  |  Marsh is closing another Indianapolis store at the end of February  |  Marsh to close two more Indy stores by mid-April; that makes four in 2017  |  Greenfield, Indy Marsh stores closing in May  |  Marsh employees upset about lost jobs, insurance benefits