A Midwest supermarket chain named Roundy’s has filed to come public via an initial public offering under the name Roundy’s Parent Company, Inc. No financial terms have been set, but the chain did note that it plans to sell up to $230 million in common stock on behalf of the company itself and for selling shareholders.
The company has listed that Credit Suisse and J.P. Morgan will lead the offering. It has not been designated stock ticker symbol and it also did not specifify whether or not the offering would be on NASDAQ or on the New York Stock Exchange.
WThe company calls itself “a leading Midwest supermarket chain with a 139-year operating history.” It claims to have leading market positions in its core markets and also claims to be the largest grocery retailer in the state of Wisconsin.
As of November 1, 2011, the parent company operated 158 grocery stores in Wisconsin, Minnesota and Illinois. Store brands are under the names of Pick ‘n Save, Rainbow, Copps, Metro Market and Mariano’s Fresh Market. These locations are served by three strategically located distribution centers as well as via its food processing and preparation commissary.
The stores are said to average approximately 61,000 square feet in size. The parent company’s IPO filing noted that this is larger than the industry average for conventional supermarkets. The company has 32 stores in the Minneapolis/St. Paul, Minnesota markets, but the store counts in Wisconsin are as follows:
- Milwaukee 60
- Madison 15
- Racine 6
- Appleton 5
- Oshkosh-Neenah 4
Net sales in 2010 were $3.76 million, up from $3.74 billion in 2009. For the first thirty-nine weeks reports this year, that figure was $2.87 billion versus almost $2.82 billion for the same period of 2010.
Another regional player is coming public. The full SEC filing is here.
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