"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.
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