Highland-based Strack and Van Til Super Market Inc. will reportedly be acquired by the families whose names are on the stores. In an email, Chief Executive Officer Jeff Strack told our partners at The Times of Northwest Indiana a group consisting of his family, the Van Tils and other buyers have succeeded in a bid through bankruptcy court proceedings to acquire 20 stores.
The grocery chain has been up for sale since May when its parent company, Illinois-based Central Grocers Inc., filed for Chapter 11 Bankruptcy protection. The families sold Strack & Van Til stores to the company 20 years ago. The Times reports a hearing for approval of the sale in U.S. Bankruptcy Court for the Northern District of Illinois is slated for Tuesday. The family bidders call themselves Indiana Grocery Group and Jeff Strack told the publication their proposal to bid was accepted last Thursday and the currently-undisclosed bid was accepted Tuesday.
In an email, Strack stated to The Times:
The Strack and The Van Til families are excited for the opportunity to continue to serve the communities of NWI as we have for over 80 years. While this will be a new company, we will continue to have the same connection to NWI as Ernie Strack and Nick Van Til did when they started their partnership years ago. Our associates, vendor partners and most importantly our customers are why we continue to work so hard. They are the reasons we are here and we appreciate them and will work hard for them. When it comes to it – we are Indiana Made.
You can read more about the process from The Times of Northwest Indiana.