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Roundy’s is apparently up for sale again, as majority owner Willis Stein & Partners looks to sell off most of its remaining investments, the Business Journal reported.
The news comes just a week after the Milwaukee-based supermarket operator raised $187.5 million in an initial public offering aimed at reducing the company’s debt. Roundy’s operates grocery stores under the Pick ‘n Save, Copps, Rainbow and Mariano’s Fresh Market banners in Wisconsin, Minnesota and Illinois.
Willis Stein tried to sell Roundy’s in 2007, and again in 2011, after acquiring the company for $750 million in 2002. In December, Willis Stein announced plans to take the company public while retaining majority control.
The Feb. 8 IPO sold 14.7 million shares of common stock at $8.50 a share, while selling stockholders sold another 7.4 million shares, including a 2.9 million option that was exercised by the underwriters. The offering reportedly raised $187.5 million, of which $110 million will go toward paying down Roundy’s more than $800 million in debt, the grocer reported.