Willis Stein picks up Roundy's
Chicago-based buyout firm Willis Stein & Partners is acquiring Roundy's Inc., a food wholesaler and retailer based in Pewaukee, Wis.
Robert Mariano, former CEO of Dominick's Finer Foods, will take over as president and CEO of Roundy's, replacing Gerald Lestina, who is retiring.
Terms of the transaction, expected to close in May, weren't disclosed.
With 13,000 employees and $3.5 billion in sales last year, Roundy's supplies more than 800 supermarkets in 14 states. The company, which is owned by a cooperative of store owners, also runs Pick 'n Save Stores and Copps Food Centers.
"We've been studying the food distribution industry for the last 18 months and this company is a star in the industry," said Avy Stein, managing partner of Willis Stein. "It's a wonderful platform for growth and we're very excited about it."
Willis Stein manages about $2.9 billion in equity capital, with a focus on investing in companies in media, telecommunications, health care, consumer products and business services. Its investments include Ziff Davis Media Inc., a New York-based computing and Internet magazine publisher; VelociTel LLC, an Irvine, Calif.-based wireless company; and National Veterinary Associates Inc., a Santa Barbara, Calif.-based veterinary care provider.
