Fareway to Purchase Shugar's in Colfax
NEWS RELEASE (Colfax, IA) – Fareway Stores, Inc. has agreed to purchase Shugar’s, a third-generation, family-owned grocery store founded in 1936 and located at 28 East Howard Street in Colfax, Iowa. Fareway and Shugar’s plan to finalize the purchase and transition near the end of the year.
“We are excited to announce our plans to expand in the Central Iowa area,” said Fareway President & CEO Reynolds W. Cramer. “While residents of Colfax may be familiar with our stores, we look forward to serving them locally and becoming an integral part of their community. We would like to thank Jim for the opportunity to carry-on this family-owned business, where he has served the community since 1994.”
Fareway is committed to providing only the best in fresh, high quality meat, with full-service butcher counters; farm-fresh produce; low, competitive prices; and the highest level of customer service, including to-your-car carryout.
“Kim and I, and our daughter Jenny, are so happy for our great customers and the community that has supported us for the past 26 years. We feel confident leaving them in Fareway’s care,” said Jim Shugar.
“The City of Colfax is beyond excited to welcome Fareway to our community. Fareway will provide a world class grocery experience in our community for the foreseeable future. We are so proud they have chosen to remain in our historic downtown and be the bellwether anchor for the district. With new subdivisions, exciting changes at Quarry Springs, a new City Hall, and now welcoming Fareway into our downtown, the community of Colfax has much to be excited about,” said Colfax City Administrator Wade R. Wagoner.
Fareway must still complete its necessary due diligence before the transaction will close. Fareway will also interview existing Shugar’s employees in the coming days and anticipates the store being closed beginning in early January for a brief period, and reopening as soon as possible.
Fareway Stores, Inc. is a growing Midwest grocery company currently operating 124 stores in a six-state region. Fareway’s mission is to provide the highest quality products, while treating customers like family, and valuing dedicated employees. Its stores are known for their unmatched, full-service meat departments, farm-fresh produce, and exceptional to-your-car customer service. Fareway is a family-owned business, recognized as a top 10 employer in Iowa, and has more than 12,000 total employees. Visit Fareway.com for more information.