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Kroger completes Roundy's share buy in merger
Kroger said Friday that it has completed its tender offer of shares of Roundy’s Supermarkets, paving the way for completion of its $800 million takeover of the Milwaukee-based operator of the Pick ’n Save and Mariano’s Fresh Market chains.
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Kroger said Friday that it has completed its tender offer of shares of Roundy’s Supermarkets, paving the way for completion of its $800 million takeover of the Milwaukee-based operator of the Pick ’n Save and Mariano’s Fresh Market chains.
“This merger blends Roundy’s complementary markets with Kroger’s strengths in scale and merchandising. Our future together is bright, and we look forward to learning from each other as partners,” Rodney McMullen, Kroger’s chairman and CEO, said in a statement. “Most of all, we want to welcome each of Roundy’s more than 22,000 associates to the Kroger family of stores.”
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The companies in filings with federal securities regulators Thursday said that the “go shop” period in the merger agreement passed without any additional bids for the company. They also also noted that two of eight separate lawsuits alleging the Roundy’s board breached fiduciary duties in connection with the merger had been dismissed.
“We look forward to bringing together the best of Roundy’s and Kroger for our customers and associates,” said Bob Mariano, who will continue to lead Roundy’s as its president and CEO. “Our merger with Kroger will help us continue to exceed our customers’ expectations.”
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