December 31, 2012

Coborn’s acquires Mike’s Super Valu

By Neal A. Shipman
Farmer Editor

With the signing of the final purchase agreement on Wednesday, Dec. 16, Coborn’s Inc., an employee-owned grocery retailer based in St. Cloud, Minn., officially acquired  Mike’s Super Valu store in Watford City from Mike and Susan Tschetter.
The Tschetters purchased the Super Valu store from Rose Schafer in 1983, and in 1985, moved the grocery store into its current location.
Coborn’s previously announced plans to build five new grocery stores in western North Dakota, including a Cash Wise in Watford City.
“We are excited to give our employees a chance to work in a new store,” states Susan Tschetter on the sale of the business that they have owned over the past 29 years. “It is a great opportunity for all of our employees, including our sons, Keith and David, who bought into the store several years ago.”
According to Mike Tschetter, all of the employees of Mike’s Super Valu will transfer to the new Cash Wise when it opens in the summer of 2013.
“Mike’s Super Valu is a strong store with an outstanding team of dedicated employees,” said Coborn’s President and CEO Chris Coborn. “They have a long history of being part of the city. They know their customers and the market, and are very involved in the community. Their understanding and involvement in Watford City will be invaluable as we move full steam ahead with our North Dakota expansion efforts.”
Mike’s Super Valu has 40 employees, who serve the area’s longtime residents and those that have joined the community more recently during North Dakota’s tremendous economic growth.
“We are very proud of the store and team that we have at Mike’s Super Valu,” said Mike Tschetter. “For years, we’ve wanted to build a new store so we could give Watford City an even better shopping experience. We’ll soon have that opportunity and we’re looking forward to it.”
According to the Tschetters, who will continue to work with the new store, they have  been very impressed with Coborn’s commitment to support the community in the same way that they have for the past 29 years.
“We’ve always felt strongly in supporting the community,” stated Susan. “This sale will give the residents of the area a new quality shopping experience. Plus Coborn’s has made it clear that they want to continue supporting the community as we have in the past.”
Coborn’s, Inc. is currently building five Cash Wise grocery stores across western North Dakota to serve the state’s booming population growth. Stores in Watford City and Minot are under construction and are planned to open during the summer of 2013. Stores in Tioga and Dickinson will open in late 2013 and early 2014, respectively. The timing of Stanley is to be announced. Coborn’s, Inc. partnered with Williston, N.D.-based JK Foods in April 2012 to own three grocery stores and a floral shoppe in western North Dakota.
Coborn’s, Inc. is an employee-owned grocery retailer with 47 stores across Minnesota, North Dakota, South Dakota, Iowa, Illinois and Wisconsin under the Coborn’s, Cash Wise Foods, Save-A-Lot, Economart, Food Pride and Mike’s Super Valu banners. Coborn’s, Inc. owns CobornsDelivers, an online grocery ordering and home delivery service; and stand-alone convenience, liquor, video and pharmacy locations.
To support its many retail locations, Coborn’s, Inc. operates its own central bakery, dry cleaning facility and grocery distribution center.
Coborn’s has approximately 6,900 employees. In 2011, Coborn’s, Inc. was recognized as ‘Independent Retailer of the Year’ by Grocery Headquarters magazine.