Associated Grocers of New England said it has agreed to acquire five independent supermarkets in Vermont operated by MAC Corner Market, Richmond, Vt.
The stores include Village Market of Waterbury, Johnson’s Sterling Market, Shelburne Market, Richmond Market & Beverage and Jericho Market. The five-store group has been a member of the AGNE cooperative, and will be operated as a separate corporate-store division of AGNE going forward, according to Mike Violette, AGNE president and CEO.
“The format of the stores is unique,” he said. “They do a lot with organic and specialty products, and have a lot of local products. We see it as a way to gain access to these local products.”
In addition, Violette said, the stores are “very well run and very well merchandised.” He said AGNE plans to retain the store workers and upper-level management.
The stores, located in northern Vermont, measure about 12,000 to 18,000 square feet.
Terms of the acquisition, which is set to close Jan. 18, were not disclosed.
In a statement, Mike Comeau, owner of the stores, said AGNE has been instrumental in helping the retailer grow.
“Associated Grocers of New England has been a strong partner through our expansions, and they seemed to be the perfect match for the future of our stores," he said.
Pembroke, N.H.-based AGNE is a retailer-owned wholesaler that distributes to both supermarkets and convenience stores. It serves more than 650 retail locations in the Northeast from Maine to eastern Pennsylvania. Through its AG Supermarkets division, it also operates eight corporate stores under the Harvest Market, Vista and Sully’s Superette banners in Vermont and New Hampshire.
Jan. 2, 2018: This story has been updated with input from AGNE.