Springdale, Ark.-based Harps Food Stores, Inc. has purchased 20 stores in northeastern Arkansas and southeastern Missouri from Town and Country Grocers of Fredericktown, Mo.
Five of the northeast Arkansas locations include Newark, Harrison, Highland, Pocahontas, and Piggott.
A press release said the timetable for the deal hasn’t been fully worked out, but both groups expect it to be completed by the end of the summer.
The deal will have to be approved by Town and Country Grocers shareholders and will be subject to due diligence and regulatory requirements.
The president and chief executive officer for Harps Food Stores, Kim Eskew, said the company is extremely excited to be adding the Town and Country stores to the Harps family. The terms of the deal were not released.
Harps currently operates 92 stores in four states — Arkansas, Missouri, Oklahoma, and Kansas. The chain is employee-owned, and employs more than 4,500.
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