Niemann Foods said it has agreed to purchase six County Market stores operated by Covington Foods, an acquisition that would expand Niemann to Indiana for the first time.
Gary Peacock, president of Covington Foods, Inc., and Rich Niemann Jr., president and CEO of Niemann Foods, jointly announced the agreement. Terms were not disclosed. The transfer of ownership is expected on or before Jan. 7, the companies said.
Family-owned Covington Foods, based in Covington, Ind., operates County Market stores in Covington, Crawfordsville and Attica, Ind., as well as two stores in Danville, Ill., and one in Tilton, Ill.
“After 56 years of operating our stores and serving the communities, we feel the time is right to make the sale. I am very proud of all our associates and the relationships they have built in the communities,” Peacock said. “I’ve known Rich and his family for over 20 years and I am confident that Niemann Foods will provide our customers a great shopping experience, our associate’s stability and growth opportunities, and our community’s modern and updated stores. NFI is a successful company and is held in the highest regard in the industry. These stores will have a very bright future.”
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Employee-owned Niemann Foods, based in Quincy, Ill., operates more than 100 stores in Illinois, Missouri and Iowa under the Save-A lot, County Market, Harvest Market, County Market Express & Pick a Dilly brands as well as Pet Supplies Plus and Ace Hardware stores.
NFI said it plans to meet with Covington associates this week to discuss the change in ownership. Stores will remain open and will continue to operate as County Markets during the entire transition.
"We are excited to expand our presence in Illinois and enter Indiana,” Niemann said. “Gary and his team have been great to work with. We are pleased to build on the Covington Foods, Inc. tradition of quality products and great customer service.”
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