Town and Country Grocers in Fredericktown has entered into an asset purchase agreement to sell its stores, according to a press release from the company.
The transaction of the employee-owned stores remains subject to ordinary due diligence and Town and Country shareholder approval, the release said.
Town and Country was founded by prominent Fredericktown businessman Bob Hufford, who died in 2018. He bought his first store in 1970 and grew his empire to 42 stores across Missouri, Arkansas, Tennessee and Kentucky. In 2009, the stores were sold to the employees.