Weis Markets on Tuesday said it has entered into an agreement with Mars Super Markets to purchase five Mars stores in Baltimore County, Md.
The stores include two in Dundalk and individual units in Essex, Arbutus and Carney. Once the purchase is complete, Weis Markets, based in Sunbury, Pa., will operate nine stores in Baltimore County, essentially doubling its footprint in the region. Weis intends to complete the purchase in late July. Financial terms were not disclosed.
“This is an important acquisition for us as we’ve been steadily expanding within Baltimore County in recent years,” Jonathan Weis, Weis Markets’ chairman and CEO said in a statement. “We have great respect for Mars, the D’Anna family and their associates who have long-served the public as a locally-focused food retailer. These are successful, well-run stores and we look forward to interviewing the associates of these stores for employment with our company.”
Mars has been the subject of takeover speculation for several years now. The company operates 13 stores, including the five to be sold to Weis. It closed four stores earlier this year.
“We have strived to truly be a part of the communities we serve and are proud of our legacy for providing both quality and service. We are grateful for our loyal customers and for our associates who serve them,” Mars chairman and CEO Chris D’Anna said. “As a family-owned business, we recognize Weis Markets as a company with a similar commitment to its communities, customers and associates. This was an extremely important consideration in our decision.”
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