ONALASKA, Wis. (WKBT) — Schnuck Markets announced Tuesday its parent company will acquire Skogen's Festival Foods.

The 1939 Group, owned by the Schnuck family, reached a definitive agreement to purchase 100% of shares in the Wisconsin-based Festival Foods parent company. The acquisition includes shares held by Festival Foods CEO Mark Skogen and employee stock ownership plan participants.

The deal acquires Festival Foods' 42 Wisconsin stores, expanding the Missouri-based retailer's footprint to 155 stores across Missouri, Illinois, Indiana and Wisconsin.

The combined operation will employ more than 19,000 people.

"Our family is honored to be entrusted with the Skogen family legacy, one that began serving Wisconsin communities in 1946," said Todd Schnuck, chairman and CEO of Schnuck Mark

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