Harps Food Stores Acquires Seven The Markets Locations in Louisiana and Mississippi; Kim Eskew and Barry Loy Comment
SPRINGDALE, AR - A major deal for Harps Food Stores was announced yesterday as the retailer revealed its purchase of The Markets, an independent grocer. With this deal, the chain will acquire six store locations in central Louisiana and one in southwestern Mississippi.
“We are excited to enter into these new markets for Harps in Louisiana and Mississippi,” Kim Eskew, Chairman and Chief Executive Officer of Harps Food Stores, said in a statement. “The Market stores have served these communities with excellence for many years, and we are thrilled to add them to the Harps family.”
According to an article from Talk Business & Politics, the financial terms of the deal were not disclosed, but Harps anticipates the deal to close by the end of the year.
The retailer told 350 The Markets associates of the pending acquisition last week and to expect minimal changes.
“We are excited for the new possibilities for growth and success that Harps can bring to our stores. We wish Harps and the Markets team members many years of success,” said Barry Loy, President of The Markets.
Harps is one of the largest employee-owned companies in Arkansas. Since its inception, the company has grown to more than 6,800 employees.
As this deal plays out, AndNowUKnow will keep you updated with the latest news.