Tuesday, August 15, 2006

Marsh Supermarkets to Sell and Leaseback Property Portfolio

SEC Edgar Archive - August 14, 2006

Marsh Supermarkets, Inc. (Nasdaq Global Market: MARSA) today announced that its Board of Directors has reaffirmed its support for the acquisition of Marsh by MSH Supermarkets Holding Corp., an affiliate of Sun Capital Partners, Inc., under which MSH Supermarkets will acquire all of the outstanding shares of both of classes of common stock of Marsh for $11.125 per share in cash without any financing condition.

Separately, the Company noted that it had been advised by MSH Supermarkets and Cardinal Paragon, Inc. and Drawbridge Special Opportunities Advisors LLC, that those parties signed a letter of intent to enter into a sale/leaseback agreement under which Cardinal/Drawbridge would acquire a substantial portion of MSH Supermarkets owned property portfolio.

Terms of the agreement were not publicly released.

(Note, Marsh Supermarkets, Inc. owns 34 Marsh Supermarkets, 43 Village Pantry convenience stores, three distribution stores and a 160,000 square foot corporate headquarters in Indianapolis at net book value of approximately $240 million acording to the companys 2006 10-K filing.) Sphere: Related Content

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