Marsh Buyers, CVS Settle Pharmacy Tiff; 18 Stores Still To Close

Inc. All right

Kroger Co. and Fresh Encounter were the successful bidders for stores operated by Marsh Supermarkets in the latter's auction in a Delaware Federal Bankruptcy Court Monday.

Topvalco, a subsidiary of Kroger, would assume 11 Marsh leases in Indiana: Bloomington (2 stores), Brownsburg, Zionsville (2 stores), Greenwood, Muncie (2 stores), Indianapolis (W. Michigan Street) and Fishers.

Marsh Supermarkets, at one time a leading Midwest supermarket chain based in IN, has accepted bids at auction for 26 of its remaining 44 stores.

Generative Growth LLC of Findlay, Ohio, has reportedly agreed to purchase 15 of the stores, including Tipton's, at a cost of $8 million.

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The $16 million Kroger has agreed to pay for 11 stores did not include any inventory.

Generative Growth agreed to buy two Indianapolis stores; other IN stores IN Columbus, Elwood, Greensburg, Hartford City, Marion, New Palestine, Pendleton, Richmond, and Tipton; and OH stores IN Eaton, Middletown, and Troy, IN addition to Van Wert. Marsh told the state last month that all remaining stores would close in mid-July without a buyer. One possible obstacle to the sale is an objection by CVS Health, which purchased the pharmacy accounts from Marsh in April.

Objections to the winning bids will be heard in the DE bankruptcy court system prior to a final sale approval hearing on Thursday. That deal came on the condition that Marsh would wait five years before reopening pharmacies in stores that used to have them.

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