has announced the signing of a purchase agreement to acquire the Sullivan’s Foods grocery shops (along with numerous other retail business units) in northern and central Illinois, marking the company’s first foray into that state. The Sullivan family owns and operates the stores, which are known as Sullivan’s Foods.
The Sullivan family has run their family of stores with great care and is a respected retailer, Coborn’s, Inc. chairman and CEO Chris Coborn stated. We look forward to extending the same operating philosophies that have made us successful for the past 102 years in these locations.
This is our first entry into the state of Illinois, so we have some things to learn, some additional distance to figure out and onboard their team into our organization,Chris Coborn continued.
The organization employs approximately 800 people and operates 11 grocery stores, a convenience store/fuel station, three Ace Hardware stores, a central office, and a limited-assortment warehouse. Coborn’s, Inc. will hire all employees. The stores will remain open under the Sullivan’s Foods banner.
John and June Sullivan founded Sullivan’s Foods, a family-owned and run food retail business, in 1967. While in the Army, John worked as a meat cutter on the side.
The couple then relocated to Platteville, Wisconsin, where John worked for another grocery shop.
He learnt more about the meat-cutting trade and other vital tools for success throughout his seven years in Platteville. John and June moved to Savanna, Illinois, in September 1967, and opened their own grocery business. He had a business partner for a brief period before buying him out and opening a new store.
Because of the success of this site, they extended their business in 1973 by opening another store in John’s hometown of Stockton. To keep up with the ever-expanding market, John and June ventured out and purchased two more locations in 1978, followed by two more in 1980.
Subject to customary closing conditions, the transaction is expected to close in early May. Coborn’s, Inc.’s grocery store portfolio will grow to 77 sites in Minnesota, Wisconsin, South Dakota, North Dakota, Michigan, and Illinois as a result of this acquisition. The company has roughly 135 business units, which include grocery stores, retail liquor stores, gas stations, pharmacies, and franchised restaurant enterprises.
