COPPELL, Texas Minyard Food Stores has announced that it will sell 37 stores and its Carnival brand, a Hispanic focused food store to a group including its rival Fiesta Mart, according to The Dallas Morning News.
Minyard president and chief executive Mike Byars said the company faced a challenge in running three brands: Minyard, Carnival and Sack ‘n Save. “Having fewer stores now, mostly Minyards, really gives us an opportunity to run a more streamlined, focused organization, which we feel is not only better for the organization, it’s better for both companies,” Byars said.
The deal involves 23 Carnival stores, five Minyard stores and nine Sack ‘n Save stores. Minyard retains 21 stores, and it will convert the remaining Sack ‘n Save stores and a Plano Carnival store to Minyards.
Fiesta will take on 11 of the 37 acquired stores, and it plans to maintain the Carnival brand, according to Byars. Fiesta operates 15 stores in the area. Other members of Houston’s Grocers Supply, a food wholesaler that owns Fiesta, will get the rest of the stores.
Byars noted that the deal should be completed in four months, including a 60-day employee notification period and a 60-day takeover transition.