Coborn’s, Inc. signs purchase agreement with SUPERVALU to acquire Hornbacher’s stores
Coborn’s, Inc. has announced it has signed a purchase agreement with SUPERVALU, to acquire the company’s Hornbacher’s stores in the Fargo, ND-Moorhead, MN area, which includes a store that is currently under construction in West Fargo, ND.
Five of the stores in operation are located in Fargo, ND and two of the stores are located in Moorhead, MN.
The Hornbacher’s locations included in the sale are:
• 1433 S University Drive, Fargo, ND
• 1532 S 32nd Avenue S., Fargo, ND
• 2510 N Broadway Avenue, Fargo, ND
• 4101 S 13th Avenue S., Fargo, ND
• 4151 45th Street South, Fargo, ND
• 101 11th Street South, Moorhead, MN
• 950 40th Avenue S., Moorhead, MN
• West Fargo store currently under construction
“We saw this as an opportunity to further invest in the thriving Fargo-Moorhead area with SUPERVALU exiting the retail business,” said Chris Coborn, Chairman, President and CEO of Coborn’s, Inc.
“Hornbacher’s is a respected grocery retailer, they’re doing everything right. We intend to let them continue operating as-is so there is no change to their guest experience.”
Matt Leiseth, who is currently President of Hornbacher’s, will continue leading the Hornbacher’s group of stores in his new role with Coborn’s, Inc. Leiseth will serve on Coborn’s, Inc.’s leadership team, but will continue to office out of Fargo with his team so he can best support the Hornbacher’s stores.
“Matt wears the Hornbacher’s name on his sleeve; he has a proven track record of taking impressive ownership in this brand and ensuring he, and his people, are visible in the Fargo-Moorhead communities. We want that to continue.” Coborn added.
“Matt will have the support of our team, but we want him to continue running the Hornbacher’s stores as he has done for the last eight years. It is the goal of Coborn’s, Inc. to operate the stores as they have been with the current employees they have employed.”