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Roundy's Wins Rainbow Auction

MINNEAPOLIS - Roundy's has emerged as the winner of an auction to acquire 31 Rainbow Foods supermarkets in the Twin Cities area from bankrupt Fleming Cos.

Pewaukee, Wis.-based Roundy's submitted a final auction bid about $2 million higher than the $82.5 million deal it announced last month to buy most of the Hopkins, Minn.-based chain.

On Tuesday Fleming rejected a higher bid for the Rainbow stores by Miner's Inc., based in Duluth, Minn. It also did not accept a bid for the Rainbow warehouse here. Roundy's announced that Dale Riley would head the Rainbow division. It also plans on keeping the Rainbow Foods banner.
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