Cincinnati-based The Kroger Co. (NYSE: KR) will Thursday celebrate the opening of its new store in downtown Indianapolis. The company has invested nearly $2 million into the former Marsh store on the corner of Michigan Street and Capitol Avenue, which was purchased in July as part of a $16 million deal by Kroger subsidiary Topvalco Inc.
The store will open at 8:00 a.m. following a private ribbon-cutting ceremony for employees. Kroger says 33 employees, representing one quarter of the new associates, previously worked in the store as Marsh employees.
"We are thrilled to know we could welcome back so many people who have dedicated their lives to the grocery business," said Pam Matthews, president of Kroger’s Central Division. "We are especially pleased to have Larry Schultz return as the manager of the store."
Kroger says a majority of the money invested in the store’s renovation went to technology upgrades, but work was done to make the store "instantly recognizable as Kroger." The new store will feature Kroger’s Bistro, Indiana Grown products and more.
Topvalco purchased 11 former Marsh stores in the deal earlier this year after Marsh filed for Chapter 11 bankruptcy protection in May. Ohio-based Generative Growth II LLC acquired an additional 15 stores that will operate under new names. Another 18 Marsh stores were closed after a buyer could not be found.