Just one day after closing its Upper Queen Anne store, Met Market announced today that it will acquire Magnolia Thriftway, a privately-owned market on 34th Ave. W. in Magnolia. Longtime owners Jim and Lynne Penhollow “decided to sell as they begin preparation for retirement,” explains a press release. This brings Met Market’s store count back to six.
“We want to be part of the close-knit community and continue the investment that the Penhollow family and store team has made, including the way in which they have taken care of customers,” said Metropolitan Market CEO Terry Halverson. “We look forward to taking part in the neighborhood’s rich history.”
The deal is expected to close in September — financial details were not disclosed — and Met Market says it plans a full-scale remodel next year.
“For 34 years, the Penhollow family has had the pleasure of serving the community of Magnolia,” explained Jim and Lynne Penhollow. “Our involvement with church, schools and our many friends here has made it feel like living in a small town. So it is bittersweet as we leave Magnolia Thriftway in the capable hands of Metropolitan Market, who will provide the community with the service and quality it so richly deserves.”