Edina, Minn. (May 7, 2014) – Lund Food Holdings, Inc., parent company of Lunds & Byerlys, has signed an asset purchase agreement with Roundy’s Supermarkets, Inc. to acquire three Rainbow grocery stores in the Twin Cities. The purchase of these stores, which are located in Woodbury, Eden Prairie and Plymouth, is expected to be finalized within the next 60 to 90 days.
At that time, the Rainbow in Woodbury, including an adjacent liquor store, and the Rainbow in Eden Prairie, including an in‐store pharmacy, will be converted to Byerly’s stores. The Woodbury store is located at 7050 Valley Creek Plaza and the Eden Prairie store is located at 970 Prairie Center Drive. The Rainbow in Plymouth at 16705 County Road 24 will continue to be operated as a Rainbow for the foreseeable future. All of the approximately 250 current employees at these Rainbow locations will have the opportunity to continue their employment with Lund Food Holdings.
“We’re committed to growth and development for the benefit of our team and customers in the communities we’ll be serving,” said Tres Lund, president and CEO of Lund Food Holdings. “We’re deeply excited to have the opportunity to bring our brand of quality, service and expertise to these communities.”
Extensive remodels at the Woodbury and Eden Prairie locations are expected to occur in 2015.
“This year we’re celebrating our 75th anniversary, and our company’s story is about growing together,” Lund said. “While we look forward to expanding our presence in the Twin Cities, we’re equally eager to welcome approximately 250 new members to our company’s extended family, while also hiring even more employees to deliver on our commitment of offering extraordinary food, exceptional service and passionate expertise.”