US food wholesaler and retailer Roundy’s has agreed to buy 31 Rainbow Foods stores from troubled grocery distributor Fleming for US$42.5m plus inventory.
Wisconsin-based Roundy’s said it would hire all current employees at the Rainbow Foods stores.
If the deal is approved by the federal bankruptcy court in Delaware, the sale is expected to be completed in June.
Fleming filed for bankruptcy last month after failing to cope with the loss of its biggest customer, Kmart.
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