Harps Buys Missouri Grocery Store Chain

Harps Food Stores Inc. of Springdale said it is buying Wallace & Owens Supermarket of Malden, Mo., which has stores in Corning and Jonesboro.

Harps Food's Executive Vice President Kim Eskew said the deal is expected to close in mid-December. He declined to release the purchase price.

Harps is also buying six Wallace & Owens stores in Missouri.

Eskew said Harps isn't planning to lay off any workers at the grocery stores. But eventually the stores will be remained Harps.

"Wallace & Owens has been around since 1949 and have an excellent reputation in every community where these stores are located," Eskew said. "So we don't see lots of major changes.... We're going to continue to do the things that they did that all the customers appreciated and liked."

After the acquisition, Harps, which is owned by its employees, will have 61 stores in Arkansas, Oklahoma and Missouri