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ShopKo Selling for $1B

GREEN BAY, WI-Private investment firm Goldner Hawn Johnson & Morrison is buying the discount retailer, which operates more than 350 units.

By Ian Ritter | Updated on April 08, 2005

Ian Ritter is national online editor for GlobeSt.com/RETAIL.

GREEN BAY, WI-Private equity firm is Goldner Hawn Johnson & Morrison is acquiring discount chain ShopKo Stores for about $1 billion including debt. In conjunction with the announcement Jack Eugster, ShopKo’s chairman resigned from his post and was replaced by two current board members.

Approximately $330 million of Goldner Hawn’s acquisition goes toward ShopKo’s debt. The retailer’s shareholders will have the right to receive $24 in cash for their company. (It’s shares closed at $23.03 yesterday.) ShopKo executives say they expect the deal to close in the second quarter.

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