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Roundy's to sell 18 Rainbow stores
Minneapolis -- Grocery retailer Roundy’s said it had entered into definitive agreements to sell 18 Rainbow stores in the Minneapolis/St. Paul market to a group of local grocers, including Supervalu.
The sale price is $65 million, and Roundy’s said it is seeking buyers for a remaining nine Rainbow stores so that it can fully exit the Minneapolis/St. Paul market.
The transaction is expected to close during the third quarter of this year. -
Supervalu to acquire Rainbow Stores in the Twin Cities
Supervalu, the owner of Cub Foods, along with four Twin Cities-based independent grocery retailers, have each entered into definitive agreements to acquire select Rainbow Foods grocery stores. In total, they agreed to acquire 18 Rainbow grocery stores, including 13 Rainbow pharmacies and three Rainbow liquor stores in Minnesota.