Springdale-based grocery retailer Harps Food Stores Inc. has entered into a purchase agreement to acquire 20 stores across northeastern Arkansas and southeastern Missouri from Town and Country Grocers of Fredericktown, Mo. The transaction remains subject to Town and Country shareholders’ approval.
Financial terms were not disclosed.
In Arkansas, locations are in Harrison, Highland, Newark, Pocahontas and Piggott. Missouri stores are in Thayer, West Plains, Fredericktown, Bonne Terre, Potosi, Park Hill, Malden, Kennett, Dexter, Jackson, Marble Hill, Clarkton, Doniphan, Bernie and Farmington.
The deal is expected to be completed this summer.
“Opportunities like this are rare,” Kim Eskew, president and CEO of Harps Food Stores, said in a statement. “We are extremely excited about adding these stores to our Harps family. They will make a great addition to our company as we strive to continue to grow.”
Harps is employee-owned and operates 92 stores in four states — Arkansas, Oklahoma, Missouri and Kansas. It employs more than 4,500.