ONALASKA (NBC 26) — Festival Foods, the Wisconsin-based grocery chain, has been purchased by the parent company of Schnucks, a Midwest based supermarket chain, according to a press release from Festival.
According to the release, Todd Schnuck, Chairman and CEO of Schnuck Markets, Inc. announced the 1939 Group, Inc.’s definitive agreement to purchase 100% of the shares of the Wisconsin-based parent company of Skogen’s Festival Foods and Hometown Grocers, Inc.
The 1939 Group is owned by the family that owns Schnuck Markets, Inc. Upon closing of the purchase, Todd Schnuck will become Chairman and CEO of the newly-formed 1939 Group, that will include Festival Foods.
“It’s been a privilege to serve Wisconsin communities and continue the legacy my grandparents began in 1946,” said Mark Skogen, outgoing CEO of Festival Foods and Hometown Grocers, Inc. “Our focus has always been on treating every customer like a guest, supporting the growth of our associates who make that experience possible and giving back to the communities we serve. With Schnucks’ shared commitment to nourishing lives, this transition will help expand our impact and continue our tradition of community support across the Midwest.”
Early indicators are that Festival Foods will keep its name and branding. According to the release, the 1939 Group is "committed to maintaining the stores' existing banners, all of which are well-known and respected in the communities they serve."
