"Our new owner brings us additional expertise and resources that will allow us to build on our successes and take advantage of new opportunities," said acting ShopKo co-chief executive officer Paul White in a statement.

ShopKo originally agreed to the offer in October after the company terminated a $27-per-share agreement to be bought by private equity firm Goldner Hawn Johnson & Morrison.

ShopKo Stores will continue to operate its 137 ShopKo stores, 216 Pamida stores and three ShopKo Express Rx stores, in 22 states primarily in the Midwest, Mountain and Pacific Northwest regions. Locally based, ShopKo Stores will continue to function as an independent company.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.