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Price Cutter, located at 1831 W. Kearney St., will become King Food Saver, a cost-plus pricing grocery chain under the same parent company, Pyramid Foods. Springfield’s first King Food Saver will host a grand opening Aug. 30 starting at 6 a.m., Rob Marsh, chief operating officer at Pyramid Foods, said in an email.

Marsh declined to disclose the financial investment decision to transition Price Cutter to King Food Saver. The nearly 58,000 square-foot Price Cutter property is owned by 1831 W Kearney, LLC, and had a market value of $2.5 million, according to Greene County Tax Assessor’s Office records.

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The parent company of Price Cutter is in the midst of transitioning one of its north Springfield locations to a cost-plus store.

At King Food Saver, all products are sold at company cost plus a 10% markup, according to the company website. The transition to a cost-plus store will allow Pyramid to better serve its customers, Marsh said. The store with have new merchandise including more grocery options at a “much lower price.”

Pyramid is modestly renovating the building. Before King Food Saver opens, the company is “repainting the entire interior of the store” and “updating all the department décor,” Marsh said.

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“Today’s consumers are looking for value while not having to sacrifice quality,” Marsh said. “I am confident once they come see us, they will absolutely witness that both have been accomplished.”

Pyramid Foods’ company umbrella holds names like Save A Lot, Ruby’s Market, Ramey, Country Mart, King Cash Saver and more, according to the company website. Pyramid is headquartered in Rogersville and operates 37 stores. The company has King Food Saver stores in other Missouri markets, such as Branson, Neosho and Cassville.

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Ryan Collins is the business and economic development reporter for the Springfield Daily Citizen. Collins graduated from Glendale High School in 2011 before studying journalism and economics at the University of Missouri-Columbia. He previously worked for Bloomberg News. Contact him at (417) 849-2570 or rcollins@sgfcitizen.org. More by Ryan Collins