For Your Information: March 27, 1998
The Federal Trade Commission today announced the following action.
Commission action regarding applications for approval: Following a public comment period, the Commission has ruled on an application for approval of a transaction from the following:
- The FTC has approved the application of Schnuck Markets, Inc. to divest two stores to Mr. Joseph Koppeis and to Shop’N Save. The divestiture is part of a 1997 agreement with the FTC that settles charges the company allowed 24 stores that it was required to divest under a 1995 settlement with the FTC to become dirty, damaged, understaffed and understocked before completing the required divestitures. As part of the settlement, Schnuck agreed to pay a $3 million civil penalty and divest two additional stores. The stores to be divested are located at 6155 South Grand Boulevard, St. Louis, Missouri, and at 49 North Florissant Road, Ferguson, Missouri. The St. Louis store will be divested to Mr. Koppeis and the Ferguson store will be sold to Shop 'N Save, a subsidiary of SuperValu. (See news releases dated February 13, 1998; July 30, 1997; June 9, 1995; Docket No. C-3585. The Commission vote to approve the divestiture was 5-0. Staff contact is Roberta S. Baruch, 202-326-2861)
Copies of the documents referenced above are available from the FTC’s web site at http://www.ftc.gov and also from the FTC’s Consumer Response Center, Room 130, 6th Street and Pennsylvania Avenue, N.W., Washington, D.C. 20580; 202-FTC-HELP (202- 382-4357); TDD for the hearing impaired 1-866-653-4261. To find out the latest news as it is announced, call the FTC NewsPhone recording at 202-326-2710.
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