SPRINGFIELD, N.J., May 20, 2011 (GLOBE NEWSWIRE) -- Village Super Market, Inc. (Nasdaq:VLGEA) announced it anticipates acquiring the store fixtures, leases and other assets of locations in White Oak, Maryland and Timonium, Maryland for approximately $6.6 million.
The purchase of these stores from Super Fresh is part of a larger purchase by a consortium, and is subject to bankruptcy court approval and other conditions. The closing is expected in approximately one month, with these stores expected to open as ShopRites this summer.
"We are very pleased to provide ShopRite's commitment to customer service, variety, value and low prices to these new locations," said James Sumas, Chief Executive Officer of Village Super Market, Inc. "We look forward to furthering Village Super Market's vision of helping families live better by creating good union jobs that will provide great value and excellent service to our customers."
Village Super Market operates a chain of 26 supermarkets under the ShopRite name in New Jersey and eastern Pennsylvania.
CONTACT: Kevin Begley, CFO (973) 467-2200, Ext. 220 Kevin.Begley@wakefern.com