INDIANAPOLIS, Jan. 21, 2003 (PRIMEZONE) -- Marsh Supermarkets Inc. (Nasdaq:MARSA) (Nasdaq:MARSB) today announced that the O'Malia Food Market division has entered into an agreement in principle to purchase the assets of two Indianapolis Mr. D's Fresh Food Markets located at 8904 South Meridian Street and 8031 Madison Avenue on the city's southside. Financial terms of the deal were not disclosed.
Don E. Marsh, chairman and CEO of Marsh Supermarkets Inc., said the two Mr. D's Food Markets will operate under the O'Malia Food Markets division. Marsh said their 170 employees would be encouraged to stay in the new arrangement.
Marsh Supermarkets, one of the country's largest regional grocery chains, purchased O'Malia Food Markets in June of 2001. Meanwhile, Mr. D's Fresh Food Markets will continue to operate one store in Bloomington, Indiana.
"We are pleased to add the two store locations to our O'Malia division," said Marsh. "Their market niche in quality and service is a natural fit for our O'Malia Food Markets, plus the addition of the two stores now gives us a presence on the southside of Indianapolis."
Citing increased competition, Mark Dietel, President of Mr. D's said, "As a small family-owned business, it was a difficult decision, but our management team felt it was the best opportunity for our loyal team members and we will pool our resources into one store located in Bloomington." Dietel stated he anticipates the transaction to be completed by mid-February.
Additionally, Marsh Supermarkets Inc. LoBill Foods division will close one store located at 550 North state Road 135 in Greenwood by the end of February.
Marsh Supermarkets Inc. operates 67 Marsh Supermarkets, 35 LoBill Food Stores, 3 Savin*$(r), 8 O'Malia Food Markets and 171 Village Pantry(tm) convenience stores in central Indiana and western Ohio. The Company also operates Crystal Food Services(tm), which provides upscale catering, cafeteria management, office coffee vending and concessions, Primo Banquet Catering and Conference Centers and McNamara Florists and Enflora - Flowers for Business.
Marsh Supermarkets Inc. is a publicly held company which employs through its various divisions, 15,000 people, principally in a two-state area. Marsh common stock is traded on the Nasdaq National Market System (MARSA and MARSB).