NBC15 WMTV | Madison, WI | News, Weather, Sports

Roundy's exiting Twin Cities market

Posted Wednesday, May 7, 2014 --- 11:46 a.m.

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 (http://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.

Copyright 2014: Associated Press


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
NBC15 615 Forward Drive Madison, Wisconsin 53711 Business: 608-274-1515 Newsroom: 608-274-1500
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 258318711 - nbc15.com/a?a=258318711