The Kroger Co. and Roundy’s, Inc. today announced the successful completion of Kroger’s tender offer to purchase all outstanding shares of Roundy’s common stock for $3.60 per share in cash. The tender offer expired at 11:59 p.m., Eastern Standard Time, on December 17, 2015.
Kroger expects to complete the acquisition of the remaining eligible Roundy’s shares not acquired in the tender offer later today through a merger under Section 251(h) of the General Corporation Law of the State of Delaware.
“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. “Most of all, we want to welcome each of Roundy’s more than 22,000 associates to the Kroger family of stores.”
“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.”
Following completion of the merger, Roundy’s shares will cease to be traded on the New York Stock Exchange, which is expected to take effect later today.