On Friday, the Kroger Co. announced it completed its tender offer to
purchase all of the outstanding shares of Roundy’s common stock for
$3.60 per share in cash.
According to the announcement,
Kroger expects to complete the acquisition of the remaining eligible
Roundy’s shares not acquired in the tender offer Friday.
“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,” said Rodney McMullen,
Kroger’s chairman and CEO, 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.”
As of the expiration of the
tender offer, approximately 33,144,128 shares were validly tendered
and not withdrawn in the tender offer, representing 67.138 percent
of Roundy’s outstanding shares, according to the depositary.
“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
president and CEO. He has served as chairman, president and chief
executive officer of Roundy’s since 2002.
“Our merger with Kroger will
help us continue to exceed our customers’ expectations,” Mariano
said in the statement.