Second Bidder for Rainbow Foods Stores Emerges

MINNEAPOLIS - A Duluth, Minn.-based grocery chain intends to submit a bid for 31 Rainbow Foods Stores, according to a report in the Minneapolis Star Tribune.

A bid from Miners Inc. would compete with one from Roundy's Inc., based in Pewaukee, Wis. Roundy's earlier bid $85 million for 30 Rainbow stores in Minnesota and one in Wisconsin.

Michael Miner, VP of Miners, confirmed Thursday that he is preparing a bid, according to the Star Tribune.

The purchase would allow the company to enter the Twin Cities market. The family-owned business's holdings include 20 stores in Minnesota, Wisconsin, North Dakota and Michigan.

The Rainbow stores are owned by Fleming Cos. of Dallas, which is in bankruptcy proceedings, and intends to sell the stores at an auction June 3.
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