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WinCo Buys Back Minority Stake
WinCo Foods said it has repurchased the entire interest in the company that has been held since 2004 by Endeavour Capital Management, Seattle. As a result Winco said Endeavour will no longer have any stake in the company, nor will it have representation on the board of managers or be entitled to any further allocations or distributions from the company.
Elliot Zwiebach
April 23, 2010
1 Min Read
ELLIOT ZWIEBACH
BOISE, Idaho — WinCo Foods here said it has repurchased the entire interest in the company that has been held since 2004 by Endeavour Capital Management, Seattle. As a result Winco said Endeavour would no longer have any stake in the company, nor will it have representation on the board of managers or be entitled to any further allocations or distributions from the company.
WinCo Holdings is an ESOP (employee stock ownership plan) whose employees own 87% of WinCo Foods, the operating company. Endeavour had acquired a minority equity interest of less than 10% in the operating company through six separate funds as part of a restructuring in April 2004 — shares that will revert back to the operating company.
There are no other outside investors in the company, a spokesman told SN. WinCo, with sales estimated at $4.3 billion, operates 71 stores and four distribution centers in Washington, Idaho, Nevada, California, Oregon and Utah.
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