- Associated Press - Wednesday, May 7, 2014

MILWAUKEE (AP) - Roundy’s is getting out of the Twin Cities market.

The Milwaukee-based grocery chain announced Wednesday it’s selling 18 Rainbow stores in the Minneapolis/St. Paul area to local grocery retailers, including Supervalu Inc., for $65 million, plus the proceeds from inventory once the deal closes.

The Journal Sentinel (https://bit.ly/1lYF4EU ) says Roundy’s is also looking for buyers for its nine remaining Rainbow grocery stores and expects to sell or close those stores and completely exit the Twin Cities market. Roundy’s CEO Robert Mariano says increased competition in the market led to the decision to sell the Rainbow stores.

Roundy’s operates 169 retail grocery stores and 114 pharmacies, under the Pick ‘n Save, Rainbow, Copps, Metro Market and Mariano’s banners in Wisconsin, Minnesota and Illinois.

___

Information from: Milwaukee Journal Sentinel, https://www.jsonline.com


Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.

 

Click to Read More and View Comments

Click to Hide