Schnucks buys Columbia Centre Market Place in Illinois
Schnucks buys Columbia Centre Market Place in Illinois
Leaders of St. Louis-based Schnuck Markets Inc. joined with Joseph (Joe) Koppeis to announce the Schnucks purchase of Columbia Centre Market Place Inc., a Koppeis family enterprise in Columbia, IL.
“In this, our 75th anniversary year, we are thankful to area customers whose support has enabled us to expand into new areas,” said Schnucks Chairman and CEO Scott Schnuck. “Schnucks remains committed to introducing more customers to our distinctive combination of quality, value and service.”
Schnucks is buying the grocery store and attached Commerce Bank space only. The sale does not include the land or other properties. Koppeis, who built the approximately 47,000-square-foot facility (including the bank space) in 1989, said the decision to sell is in the best interest of his family and employees.
“The Market Place will be a great location for us in that we will be able to serve new customers and operate in close partnership with Schnucks Waterloo just under eight miles away,” Schnuck said. “We respect the Koppeis family, who like Schnucks are a family enterprise and share our sense of community.”
The Schnucks human resources team will to speak to all 70 employees about employment opportunities with Schnucks.
“After 25 years of serving our community, it’s time to sell and give our employees career growth opportunities with a company like Schnucks,” he said. “My wife and I will turn our attentions to our other commercial real estate enterprises and we will remain landlords to the new Schnucks store.”
Customers will be able to buy essential items from now through the close on Jan. 12. The store will reopen as a Schnucks store on Jan. 16. Schnuck said the transition will be as seamless as possible as both families will work together to minimize inconvenience. The Koppeis family will oversee an immediate sell down of discounted merchandise.