The Register Citizen (Torrington, CT)
Familyowned Marandino’s supermarket nearing sale
According to broker for Foothills Plaza, paperwork is expected to be drawn up this week for new lease
NEW HARTFORD — One of the area’s longest operating familyowned supermarkets is reportedly nearing sale.
According to Sam Macaluso, of Berkshire Hathaway, one of the listing agents for the Foothills Plaza on Main Street, paperwork is expected to be drawn up this week for a new owner to enter into a lease agreement to operate Marandino’s supermarket, which has been located in New Hartford since 1963.
Macaluso said there have been two offers made by potential buyers of the
Foothills Plaza, located just a few miles from New Hartford center. The offers are contingent upon the supermarket remaining open.
“The present owners, Peter and John Marandino, want to retire and a new owner with experience operating a supermarket,” is expected to purchase the supermarket and sign a lease on the 25,000squarefoot building “this week,” Macaluso said.
The supermarket is one of two “anchors” in the plaza; the other is the Northwest Community Bank. In a posting for the sale of the plaza on the website LoopNet, it is reported the site is 100 percent tenant occupied. The plaza, which totals 30,437 square feet, is listed for $2.5 million. In addition to Marandino’s Supermarket and Northwest
Community Bank in the plaza, other businesses include Six Spoons Chocolatier, Earthbound Tattoo, NonStop Ballroom Dance Studio, Bamboo, Marandino’s Spirits, and the New Hartford Diner.
On the website BizBuySell, Marandino’s Supermarket’s list price is $300,000. The website says the store has a “gross revenue” of $5.05 million. An inventory of $400,000 is not included in the asking price, the site says.
The website’s description reports that the supermarket is a “wellestablished, familyowned and operated 25,000squarefoot, fullservice supermarket in the Greater Hartford metro area, anchoring a shopping center with a liquor store, bank, and other service retail tenants. The store has a strong reputation for its full service meat department and is fully equipped for preparedfoods, deli, and bakery operations. The store is in a trade
area with 14,000 people and no other full service supermarkets within five miles.” The website said the store has 50 employees.
According to the store’s website, Bias and Evelyn Marandino moved to the plaza from a small store in Bloomfield. The site says that in 1970, the Marandino family bought the land for and built the Marandino Plaza Shopping Center in New Hartford, present home of the supermarket and other stores.
Also according to the store’s website, Peter and John Marandino, Bias and Evelyn’s sons, became involved with the business and helped to achieve its current size, evolving into a “onestop grocery shop with a lush produce department; butcherstyle meat department; fullservice deli; organic, local, gourmet and specialty, and glutenfree sections; great service, and a bright, clean space.”.
The description on Biz
BuySell says the seller will “assist new owner with training during a twoweek transition after closing and is open to providing additional support on a consulting basis after that.” The reason for selling was listed as “owner looking to retire.”
The owners of Marandino's Supermarket declined comment on the reported looming sale when contacted Monday.
Marandino’s Supermarket is beloved by the small community for its “core values” that remained “the same as they did from day one, and we don’t believe in taking shortcuts to maintain them,” the store’s website says. “Fresh meats and produce, friendly team members, and an immaculate store have all been key to our success, as well as open communication. Peter and John (Marandino) in the aisleskeeping them spotless and working directly with customers to answer questions.”