SEATTLE — Metropolitan Markets, an independent chain with five upscale stores, said Wednesday it will purchase the Magnolia Thriftway store here, effective in early September.
The Thriftway is owned by Jim and Lynne Penhollow, who said they decided to sell the 17,500-square-foot store as they prepare to retire. The acquired store operates within the same 30-mile radius of Metropolitan's other stores, a spokeswoman told SN.
Terms of the acquisition were not disclosed.
Metropolitan said it is talking with Thriftway customers to understand what product lines and store services they prefer. It also said it plans to make some small aesthetic updates to the store in the short term, with a full-scale remodeling scheduled for next year.
Endeavour Capital, Portland, Ore., acquired a stake in Metropolitan earlier this month. Endeavour also owns stakes in Bristol Farms, Carson, Calif.; New Seasons Markets, Portland; and WinCo Foods, Boise, Idaho, as well as in several other businesses in the Pacific Northwest.