Food City to Acquire Cooke’s Grocery Stores
The Abingdon, Virginia-based retailer said it plans to retain the Cooke’s/Fresh n’ Low names and operate both formats of the Tennessee-based chain in a similar fashion for the immediate future.
Winsight Grocery Business
By Diane Adam on Aug. 25, 2022
Abingdon, Virginia-based retailer Food City, which partnered last month with DoorDash to continue its e-commerce expansion, announced Wednesday it will acquire the Cooke’s family of stores in the greater Cleveland, Tennessee, area, expanding its brick-and-mortar footprint.
“We’re extremely excited to add the Cooke’s family of stores to our existing Food City locations, which have served the Cleveland community for many years,” Food City President and CEO Steven C. Smith in a statement. “We plan to make some large investments in the greater Cleveland area to ensure the future success of our new teammates.”
The Food Partners acted as financial advisor to Cooke’s in the transaction.
Smith said he hopes to finalize the acquisition and begin operation of the Cooke’s family of stores by October 1.
Looking to make extensive capital investments in the Bradley County and greater Cleveland markets, Food City said it plans to retain Cooke’s/Fresh n’ Low name and operate both formats in a similar fashion for the immediate future.
The stores, which range in size from 15,000 to 35,000 square feet, will include the following five Fresh n’ Low locations, as well as the Cooke’s Food Store & Pharmacy:
- Fresh n’ Low, 3870 Candies Creek Lane NW, Cleveland, Tennessee
- Fresh n’ Low, 2010 Broomfield Road SE, Cleveland, Tennessee
- Fresh n’ Low, 99 Highway 286, Eton, Georgia
- Fresh n’ Low, 101 State Highway 58 South, Georgetown, Tennessee
- Fresh n’ Low, 116 Whitewater Drive, Ocoee, Tennessee
- Cooke’s Food Store & Pharmacy, 3400 Keith Street NW, Cleveland, Tennessee
Family owned and operated since 1936, Cooke’s has been passed down through four generations. The locations are known for their fresh cut meats, deli, fresh produce, full-service Cooke’s Pharmacy and community involvement, Food City said in a statement.
Dan Cooke, whose grandfather founded Cooke’s, said, “On behalf of the entire family, we thank the Cleveland community, our customers, and our employees for your loyalty and support. It has been a privilege to serve you for the past 86 years. We are grateful that our employees will have the opportunity to continue our commitment to the community.”
Food City parent K-VA-T Food Stores, which recently broke ground on a new store in Alcoa, Tennessee, operates 140 retail outlets in five Southeast states: Kentucky, Virginia, Tennessee, Georgia and Alabama.
grocers.com.
