Roundy's to acquire 11 Chicago-area Dominick's
CHICAGO (AP) -- Milwaukee-based Roundy's Inc. says it will acquire 11 Dominick's stores in the Chicago area.
Roundy's said Monday in a news release that it would convert the stores to operate under the Mariano's banner. The company says it would acquire the Dominick's stores from Safeway Inc. in a $36 million cash and lease assumption transaction. Safeway said in October that it would stop operating 72 Dominick's stores in Chicago.
Roundy's says it hopes to close the transaction in the second half of the month. The company plans to finance the acquisition through a debt financing transaction.
Mariano's has 13 locations in the Chicago and five locations under construction.