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Eastside Marketplace, a long-established upscale supermarket in Providence, R.I., will be sold to Eastside Providence LLC, a subsidiary of Ahold USA, with an expected close date of around Aug. 2. The price of the transaction was not disclosed.
Plans call for the store's 168 employees and management team to remain in place, and for the business to continue as Eastside Marketplace. Current owner Scott Laurans will stay on in an advisory role, while General Manager Brian Pacheco will keep overseeing all aspects of the business.
"For a world-renowned company such as Ahold to say that they want to work with us is a testament to all the associates of Eastside Marketplace for the unique store they have helped create," said Laurans.
"Eastside Marketplace is a terrific community asset," noted James McCann, COO for Ahold USA, which supports four regional divisions -- Stop & Shop New England, Stop & Shop New York Metro, Giant Landover, and Giant Carlisle -- that collectively operate almost 775 supermarkets with about 120,000 associates in 14 states and the District of Columbia, as well as e-grocer Peapod. Ahold USA's parent company is Amsterdam-based retail conglomerate Ahold.
Founded in 1981, Eastside Marketplace has been voted "Best Local Supermarket" 12 times in Rhode Island Monthly's annual survey.