Butterfield President Frank Violi is president and CEO of Violi Foods, which was incorporated in May and operates from Butterfield's current location in Noblesville.
Butterfield prepares salads and other deli foods sold in the grocers' delicatessens, and will continue in the same role under the new ownership.
Fishers-based Marsh said in a statement that the sale is part of an ongoing focus on its core grocery business and that it would use proceeds of the sale to invest in Marsh stores.
In June, Marsh sold its McNamara Florist division to a partnership led by that company's president, Toomie Farris, also at an undisclosed price.
Its Village Pantry convenience store chain now reports directly to Marsh owner Sun Capital Partners, and the Boca Raton, Fla., investment firm has said Marsh's Crystal Catering operation also will eventually operate independently.