A Wisconsin company that operates Piggly Wiggly and Butera Market stores acquired the real estate and assets for three remaining Joe Caputo & Sons grocery stores at auction Thursday. The $32 million deal is pending court approval.
Property and assets of the financially troubled Caputo & Sons stores were auctioned at the Hyatt Regency Rosemont. Piggly Wiggly Midwest, which is owned by the Butera family, acquired the stores in Algonquin, Des Plaines and Palatine, which total about 267,000 square feet of retail space on 30 acres.
On Friday, Paul Butera, chairman and CEO of Piggly Wiggly Midwest, said he intended to keep all three stores operating with the same employees — with some improvements in the center of the stores.
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