Roundy’s Supermarkets said it had completed a stock offering raising approximately $20 million the retailer will use for general corporate purposes including the conversion of acquired former Dominick's stores in the Chicago market.


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In total, 10.1 million shares of Roundy's stock were sold, consisting of 2.9 million shares owned by the company and 5.9 million shares belonging to existing stockholders, sold at $7 a share The company received proceeds only from its own shares. In addition, underwriters of the offering exercised rights to buy an additional 1.3 million shares from the selling stockholders at a discount. Selling stockholders included Roundy's majority owner, Willis Stein & Partners.

Milwaukee-based Roundy's acquired 11 former Dominick's stores from Safeway late last year with the intention of converting them to its Mariano's banner.

Editor's note: A previous version of this article incorrectly stated the value of the offering.

Read more: Roundy's to acquire 11 Dominick's

 

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