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US: Kroger announces $800 million merger into the midwest

 |  November 11, 2015

The Cincinnati-based Kroger and Roundy’s, parent company of Copps grocery stores, announced Wednesday, a definitive merger agreement has been reached. Kroger will purchase all outstanding shares of Roundy’s for $3.60 per share. Kroger will buy Roundy’s for a total of $800 million.

Kroger will purchase the company for $154 million, but also absorb its $646 million in debt.

Following finalization of the merger, Roundy’s will continue to operate its stores as a subsidiary of The Kroger Co. and will continue to be led by key members of Roundy’s senior management team. There are no plans to close stores, and associates will have employment opportunities with both companies. Roundy’s headquarters will remain in Milwaukee.

Full content: Chicago Tribune

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