By George Anderson
A bankruptcy court awarded Roundy's with 31 Rainbow Foods stores when it disqualified the only other bidder.
According to the St. Paul Pioneer Press, Roundy's winning bid was "about $2 million higher than the $82.5 million tentative deal it struck last month to buy the bulk of the Hopkins, Minn.-based supermarket chain from parent Fleming Cos."
Bob Mariano, chief executive officer, Roundy's will take over management of the Rainbow Foods stores within a few days following approval of its bid by a federal bankruptcy court. That approval is expected today.
Moderator's Comment: What will Roundy's management mean to the Rainbow Foods locations?
Bob Mariano pointed out correctly that Roundy's has experience acquiring another brand (Copp's) and building on its equity with consumers. We would expect no less in this case. [George Anderson - Moderator]