Arkansas based company to purchase The Markets, continue on community grocer reuptation – Daily Leader

Arkansas based mostly firm to buy The Markets, proceed on neighborhood grocer reuptation

Printed 5:02 pm Monday, October 24, 2022

SPRINGDALE, Ar — Harps Meals Shops, the most important employee-owned firm in Arkansas and headquartered in Springdale, introduced it has entered a purchase order settlement with the Miss-Lou’s locally-owned grocery chain The Markets. Harps Meals Retailer’s CEO and Chairman Kim Eskew made the announcement in a press launch Monday afternoon. 

The timing of this transaction has not been finalized however each events anticipate completion by the top of 2022, the assertion mentioned.

“We’re excited to enter into these new markets for Harps in Louisiana and Mississippi,” Eskew mentioned. “The Market shops have served these communities with excellence for a few years, and we’re thrilled so as to add them to the Harps household.”

Barry Loy, president of The Markets, mentioned within the launch that its retailer banners, employment and operations of shops will proceed with minimal adjustments.

Harps has an analogous story to the Loy household. Household ran and operated, the corporate began in 1930 and has since expanded to 135 shops underneath the Harps identify. 

The Markets consists of seven shops with three in Louisiana, one in Ball, Ferriday and Vidalia along with 4 in Mississippi, three in Natchez and one in McComb. Till Harps purchased The Markets, it has been regionally owned by the Loy household since 1969.

Barry mentioned he and his brother Jeff Loy, vice-president, have been concerned within the grocery retailer enterprise their complete lives. Natchez is their dwelling, so the selection to promote to a different firm was a tricky one, he mentioned. 

Since 2001, Harps has been employee-owned and continues to be worker owned. 

“It’s laborious to let go of one thing you have got constructed. Harps is an superior firm, and we determined to promote to them as a result of we expect they’ll take issues to the subsequent stage,” Barry mentioned. “Nobody else made us really feel as snug as they did. We predict it is going to be good for our staff. They’ll develop. They’re worker owned which is nice for our workers. Their values lined up with us and they’re so much like us. They do job and are in a development mode.” 

For the final 47 years, Barry has labored in grocery and been concerned locally. He’ll proceed to be locally however plans to take day off to refresh and retire. Grocery is a demanding enterprise however they’ve been blessed past measure. 

Most significantly, the Loys couldn’t have performed this with out the lots of of people that have labored with the corporate over time. The identical neighborhood involvement is why he discovered it simpler to cross the enterprise on to Harps.

“They may do job caring for our neighborhood,” he mentioned. “We rebranded 25 to 30 years in the past and took on the identify of every neighborhood we’re in. All of our workers and clients know that is our hometown. We imagine in giving again and we now have been good companions. We actually admire the Miss-Lou for his or her assist. We admire them for selecting us. We imagine Harps will proceed on our status.”