Supervalu, in partnership with four Twin Cities-area independent retailers, said Wednesday that the group has agreed to acquire 18 Rainbow Foods grocery stores from Milwaukee-based Roundy’s for about $65 million, plus inventory. Ten of the acquired stores would be converted to Supervalu’s Cub Foods banner and two to the Byerly’s banner, with the other six remaining Rainbow Foods. Of the 18 stores, Supervalu will have 100% ownership in three Cub stores; majority ownership in ...
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