Klaff Realty, together with JV partners, acquires ShopKo and Pamida for $1.1 billion in a deal led by Sun Capital Partners
Klaff Realty, together with JV partners Acadia Realty Trust (NYSE: AKR), Lubert Adler and Elliot Management invest in ShopKo and Pamida in a deal led by Sun Capital Partners Inc.
ShopKo was founded in 1962 in Green Bay by James Ruben. From 1991 until 2005, the company was publicly-held with stock traded on the New York Stock Exchange under the symbol SKO. In December 2005, the company was acquired by an affiliate of Sun Capital Partners and reverted to private ownership. The JV partners acquired 137 ShopKo stores, 216 Pamida stores and three ShopKo Express neighborhood drug stores in 22 states, primarily in the Midwest, the Mountain and Pacific Nortwest states. At the time of sale, the company generated annual sales of approximately $3 billion dollars. The company employs approximately 25,000 people.