Milwaukee-based Roundy's Supermarkets Inc. is reportedly up for sale again.
The company's Chicago-based owner, Willis Stein & Partners, has hired Moelis & Co., a New York-based investment bank, as a financial advisor to run an auction for the firm, along with Credit Suisse, according to a report at TheDeal.com.
Observers estimated an asking price of about $1.2 billion for Roundy's. The report said the eventual buyer is more likely to be a strategic player than another investment firm. The report speculated that likely suitors may include Kroger Co., Cincinnati; Schnuck Markets, St. Louis; and Safeway-owned Dominick's, Chicago.
Roundy's operates Pick 'n Save, Copps, Metro Market, Mariano's Market and Rainbow stores in Wisconsin, Minnesota and Illinois.
Roundy's was sold to Willis Stein & Partners for $750 million in 2002. Willis Stein originally planned to sell Roundy's around 2007, but the Great Recession delayed the transaction.
Neither Roundy's nor Willis Stein responded to requests for comment.
In recent years, Pick 'n Save has faced increased competition in the Wisconsin market from the Sendik's store group, Whole Foods, Wal-mart, Target, Aldi and Woodman's.