PriceSmart to open two stores in Colombia
San Diego – On Jan. 30, 2014, PriceSmart, Inc. acquired approximately 147,000 usable sq. ft. of land in the city of Medellin, Colombia, and leased approximately 126,000 usable sq. ft. of land in the city of Bogota, Colombia, upon which the company plans to construct two new warehouse club stores. These two warehouse clubs are currently planned to open before the end of calendar year 2014.
With the three warehouse clubs currently operating in Colombia (one in Barranquilla and two in Cali) and with the planned opening in November 2014 of a warehouse club in Pereira, these two new clubs will bring the number of PriceSmart stores operating in Colombia to six.
Roundy’s to make public offering of common stock
Milwaukee – Roundy’s, Inc. will be offering 2,948,113 shares of its common stock, and certain selling stockholders will be offering 5,896,226 shares of the company’s common stock. The underwriters will be granted a 30-day option to purchase up to an additional 1,326,650 shares of common stock from the selling stockholders, all at the offering price less the underwriting discount.
Roundy’s intends to use the net proceeds for general corporate purposes, which it expects to include funding working capital and operating expenses as well as capital expenditures to build out the Chicago stores acquired from Safeway. The company will not receive any of the proceeds from the sale of shares by the selling stockholders, including the shares to be sold by the selling stockholders if the underwriters exercise their over-allotment option.
Krispy Kreme appoints Cold Stone exec as president, international
Winston-Salem, N.C. – Dan Beem will be joining Krispy Kreme Doughnuts, Inc. as senior VP of the company and president international later in February 2014. Beem, 44, will report to president and CEO Jim Morgan, and will be responsible for the company’s international franchise business segment.
Beem succeeds Jeff Welch, who has left the company. He has more than 20 years’ experience in the restaurant industry, and most recently served as president of Cold Stone Creamery and Kahala Corp. International, where he directed all international development, operations and franchise development for Kahala’s 14 brands and more than 3,000 stores worldwide, including more than 1,500 Cold Stone Creamery locations in 25 countries. Prior to joining Cold Stone in 2003, he held executive and management positions with Planet Hollywood, T.G.I. Fridays, Gordon Biersch Brewing Company and NASCAR.