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Milwaukee-based Roundy’s Inc. has filed a prospectus for a public stock offering of 2.9 million additional shares of its common stock.
Certain selling stockholders also will offer 5.9 million shares of the company’s common stock. The underwriters will be granted a 30-day option to purchase up to an additional 1.3 million shares of common stock from the selling stockholders, all at the offering price less the underwriting discount.
The company intends to use the net proceeds for general corporate purposes, which it expects to include funding working capital and operating expenses, as well as capital expenditures to build out the 11 Chicago Dominick’s stores it acquired from Safeway Inc. Roundy’s is converting the Chicago stores to Mariano’s Fresh Markets.
Roundy’s operates 162 retail grocery stores and 112 pharmacies under the Pick ’n Save, Rainbow, Copps, Metro Market and Mariano’s retail banners in Wisconsin, Minnesota and Illinois.