(WFRV) - Schnuck Markets, Inc. announced it will acquire Festival Foods, creating a new family-owned holding company called 1939 Group Inc.

The deal includes 51 Wisconsin stores, adding to Schnucks' 113 other locations in the Midwest.

Festival Foods leads statewide initiatives that benefit the community. Some include the annual fireworks presentations during the 4th of July, the Turkey Trot, and donations to food pantries.

According to new CEO and Chairman Todd Schnuck, these community-based initiatives will continue.

“[The] support that they provide the community, we don't see that changing,” Schnuck said.

For more information about the sale, read the attached press release, and hear from Todd Schnuck in the video player above.

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