Coborn’s Buys Mike’s Super Valu

coborns-justin-loeschkeCoborn’s Inc. in St Cloud, Minnesota, has reported that it has bought Mike’s Super Valu.

The independent store located in North Dakota’s Watford City said that it was planning to move its staff to a Cash Wise location that Coborn’s is constructing in the city. Mike’s Super Valu has been in operation for the last 29 years.

The store had been run by Mike Tschetter and  his wife Sue. Coborn’s refused to disclose the terms of the acquisition.

Coborn’s new Cash Wise location is anticipated to be opening its doors in the summer.

Chief Executive Officer and President of Coborn’s Chris Coborn said that Mike’s Super Valu was a strong and valuable store that had dedicated employees. He further said that the store drew from their long history in the city and knew the market and customers very well. He lauded their involvement with surrounding community and that this involvement and understanding in the city (Watford) would be invaluable for Coborn’s as they move ahead with their expansion plans. Coborn’s Inc. has plans in place to expand further into North Dakota.

Coborn’s, Inc. is a convenience, liquor, and supermarket retailer. It has been ranked 21 of 100 in a listing by Corporate Report of top private companies located in Minnesota. The company’s facilities, most of which are situated in the upper Midwest, have a central bakery and floral center in Minnesota, 18 pharmacies, 14 liquor stores with Coborn’s, as well as Cash Wise banner, 6 video rental locations, 15 convenience stores with the banner Little Dukes, 10 Cash Wise stores and 13 Coborn’s supermarkets. It was named as one of 10 most generous organizations in the U.S. by George mag.