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Hy-Vee Inc., a leading retail business in the Midwest, has announced its intention to acquire the Strack & Van Til Food Market chain, enhancing its presence in northwest Indiana. This strategic move underscores Hy-Vee’s commitment to growth and customer-centric values, aligning with its expansion strategy across diverse business units.
Acquisition Details
The acquisition will integrate 22 stores from Strack & Van Til Food Market chain into Hy-Vee’s extensive network of over 550 retail units, encompassing grocery stores, drug stores, pharmacies, restaurants, and convenience stores. This expansion reinforces Hy-Vee’s market position and strengthens its offerings in the region.
Hy-Vee CEO Jeremy Gosch emphasized the synergies between the two companies, stating, “As our company continues to expand into Indiana and the Southeast region, Strack & Van Til’s customer-centric focus and company vision to ‘make lives easier’ aligns with Hy-Vee’s values and growth strategy.”
Strategic Partnership
Strack & Van Til will operate as a subsidiary under Hy-Vee Inc., maintaining its brand identity and business operations. The acquisition reflects Hy-Vee’s dedication to fostering partnerships that drive innovation, enhance customer experience, and contribute to local communities.
Jeff Strack, CEO, and president of Strack & Van Til, expressed optimism about the acquisition, stating, “With our combined focus on providing excellent customer service, taking care of our employees, and giving back to our local communities, we believe this acquisition is a win-win for both our associates and our company.”
Future Growth and Vision
Randy Edeker, Hy-Vee’s executive chairman of the board, highlighted the shared values and growth opportunities arising from the acquisition. He emphasized the commitment to delivering value, quality groceries, perishables, and freshly prepared foods, aligning with Hy-Vee’s longstanding philosophy.
With the acquisition set to conclude in early May, Hy-Vee’s strategic expansion includes membership in Associated Wholesale Grocers (AWG), enhancing its supply chain capabilities and market presence.
Conclusion
The acquisition of Strack & Van Til Food Market chain marks a significant milestone in Hy-Vee’s growth trajectory, reflecting its strategic vision, customer-centric approach, and commitment to excellence in the retail industry.
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