ST. LOUIS — Schnuck Markets Inc. is exiting the Memphis market, selling nine grocery stores and eight gas stations to Kroger.

Schnuck Markets Inc. is exiting the Memphis market, selling nine grocery stores and eight gas stations to Kroger.

The remaining three Schnucks locations in greater Memphis will be shuttered within a month of the sale.

Schnucks entered the market in 2002 with the purchase of 12 former Seessel’s grocery stores from Albertson’s Inc. The sale to Kroger will mark the sixth time that the store group will have changed hands since 1987.

Schnucks chairman and chief executive officer Scott Schnuck said the Memphis units were hurt by a lingering high price perception and fierce competition from stores including a growing number of nontraditional grocers.

Kroger said it will rebrand the stores in the coming weeks. The Cincinnati-based chain will add a total of six new stores to give it 43 in the Memphis area.

"For over 60 years Kroger has proudly served the Memphis community," says Kroger Delta Division president Mark Prestidge. "Kroger has demonstrated its commitment to the Memphis area by investing over $70 million on remodels, expansions and fuel centers over the last five years. We continue to focus on upgrading our store base in an effort to provide our customers the best shopping experience possible. With this acquisition, we are pleased to be able to provide more convenient locations for our customers to shop at in the Memphis area."