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Grocery Co-Op Bags Fresh Brands for $100M

CHICAGO-Certified Grocers Midwest Inc., a 65-year-old grocery wholesale cooperative, agrees to acquire Fresh Brands Inc. for approximately $100 million. Fresh Brands is the operator of Piggly Wiggly and Dick's Supermarkets brands.

By Dana Dubriwny | Updated on December 06, 2005

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CHICAGO-Grocery wholesale cooperative, Certified Grocers Midwest Inc., has agreed to purchase Fresh Brands Inc. for approximately $100 million, which includes assumed debt and other liabilities. Fresh Brands operates corporate-owned and franchised retail supermarkets under the Piggly Wiggly and Dick’s Supermarkets brands.

“This will greatly benefit all of our shareholders, franchisees, employees and vendors,” says Louis Stinebaugh, Fresh Brands’ president and CEO. “We believe that this merger provides an opportunity for us to further lower our product costs, realize operating synergies and efficiencies, and deliver an even more effective value proposition to our franchisees and retail customers.”

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