Roundy’s Takes Rainbow Foods
By George Anderson
A bankruptcy court awarded Roundy’s with 31 Rainbow Foods stores when it disqualified
the only other bidder.
According to the St. Paul Pioneer Press, Roundy’s winning bid was “about
$2 million higher than the $82.5 million tentative deal it struck last month
to buy the bulk of the Hopkins, Minn.-based supermarket chain from parent Fleming
Cos.”
Bob Mariano, chief executive officer, Roundy’s will take over management of
the Rainbow Foods stores within a few days following approval of its bid by
a federal bankruptcy court. That approval is expected today.
Moderator’s Comment: What will Roundy’s management
mean to the Rainbow Foods locations?
Bob Mariano pointed out correctly that Roundy’s has experience
acquiring another brand (Copp’s) and building on its equity with consumers.
We would expect no less in this case. [George
Anderson – Moderator]