Harps Food Stores Inc. of Springdale has entered into an agreement to buy 20 stores across northeastern Arkansas and southeastern Missouri from Town and Country Grocers Inc. of Fredericktown, Missouri.
Financial terms of the deal were not disclosed. The deal is subject to ordinary due diligence, including approval from the Town and Country shareholders. Executives expect the purchase to close this summer.
"Opportunities like this are rare," Harps President and CEO Kim Eskew said. "We are extremely excited about adding these stores to our Harps family. They will make a great addition to our company as we strive to continue to grow."
The Arkansas locations are:
- Country Mart — Harrison
- Town & Country — Highland
- Town and Country — Newark
- Price Chopper — Pocahontas
- Country Mart — Piggott
The Missouri locations are:
- Town & Country – Thayer
- Cash Saver – West Plains
- Country Mart – Fredericktown
- Country Mart – Bonne Terre
- Country Mart – Potosi
- Country Mart – Park Hill
- ALPS Supermarket – Malden
- Country Mart – Kennett
- Town and Country – Dexter
- Country Mart – Jackson
- Country Mart – Marble Hill
- Town and Country – Clarkton
- Town and Country – Doniphan
- Town and Country – Bernie
- Country Mart – Farmington
Harps ranked No. 16 on Arkansas Business' most recent list of the state's 75 largest private companies, with 2018 revenue of $796 million. It operates 92 stores in four states: Arkansas, Oklahoma, Missouri and Kansas.
Founded in 1930, Harps is the largest employee-owned company in Arkansas and now has more than 4,500 employees.
