FEW CHANGES EXPECTED AT SHOPKO, PAMIDA
Wednesday, January 4th, 2006 -- 4:30 PM
Few changes are expected at Pamida and Shopko stores after Sun Capital Partners Inc. recently bought Shopko for $29 a share in cash. There are 42 Shopko stores in Wisconsin. Since 1999, Shopko has owned Pamida, which has 18 stores in Wisconsin. Shopko spokesperson John Vigeland (vig-lend) says they?re expecting "business as usual".
"At this point, we don't anticipate any changes," Vigeland says. "This new company gives us some added resources as they have some expertise in the retail industry and some fairly deep pockets as they paid cash for Shopko and Pamida."
"We think it will mean positive things down the road for customers and employees," Vigeland says.
Based on the history of Sun Capital Partners, Vigeland expects a period of growth at Green Bay-based Shopko.
"(Their) track record has been to grow the business pretty substantially and sell it again in five to ten years. We'll see what happens."
There are 216 Pamida stores and 137 Shopko stores around the country.
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