Roundy's Inc. to sell 8.8 million shares of stock

MILWAUKEE (WITI) -- The Milwaukee Business Journal reports Roundy's Incorporated, the Milwaukee parent company of Pick 'n Save and other grocery chains will sell an additional 8.8 million shares of stock.

The company itself is selling 2.9 million shares of stock, and selling stockholders are offering another 5.9 million shares.

Roundy's says they will use proceeds of the sale for general corporate purposes, including expenses related to the acquisition and operation of 11 former Dominick's stores in the Chicago area.

Roundy's estimates it would receive over $23 million in net proceeds from the sale.

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