GREEN BAY - The proposed Shopko Hometown store in Brodhead is part of a larger initiative by Green Bay-based Shopko to capture small-town markets across the U.S.
Shopko announced Wednesday that it is buying Pamida, a chain of almost 200 general merchandise stores, and converting them to the Shopko Hometown store brand.
The merger will create "one of the largest U.S. retailers focused on serving smaller and rural communities," according to a news release from Shopko officials Wednesday.
Shopko Hometown stores are designed specifically for smaller communities and include pharmacy services, as well as apparel, toys, electronics and seasonal items, Shopko President and CEO W. Paul Jones said in the release. Most of the stores range from 15,000 to 35,000 square feet.
In addition to converting Pamida stores, Shopko plans to add other new Shopko Hometown stores in the later part of 2012 and into 2013, according to the release.
One of those stores is being proposed in Brodhead. C.D. Smith Construction has proposed developing the land at the southwest corner of Wisconsin 11 and 25th Street. The Fond du Lac company would buy the land and build a commercial facility, with the tentative tenant being Shopko. The proposed store is just over 35,500 square feet.
The developer is seeking up to $625,000 in TIF assistance over 16 years for the $2.5 million project. In December, the Brodhead plan commission offered $500,000 in TIF assistance over 10 years. A decision on the project is still pending.
Shopko officials said the merger will not change existing Shopko stores, which are typically about 90,000 square feet. About $80 million will be invested over the next 12 months to convert most of Pamida's locations to Shopko Hometown stores, according to company officials.
Over the past two years, Shopko has purchased seven stores from Pamida and converted them to the Shopko Hometown format.
Shopko operates 149 stores in 13 states and has annual revenues of $2 billion. Pamida, based in Omaha, Neb., operates 193 stores in 17 states and has revenues of approximately $1 billion.
The combined company will use the Shopko name and will be headquartered in Green Bay. It will have nearly 350 locations in 22 states.
Financial details of the merger, which is expected to close in mid-February, were not disclosed.
Shopko announced Wednesday that it is buying Pamida, a chain of almost 200 general merchandise stores, and converting them to the Shopko Hometown store brand.
The merger will create "one of the largest U.S. retailers focused on serving smaller and rural communities," according to a news release from Shopko officials Wednesday.
Shopko Hometown stores are designed specifically for smaller communities and include pharmacy services, as well as apparel, toys, electronics and seasonal items, Shopko President and CEO W. Paul Jones said in the release. Most of the stores range from 15,000 to 35,000 square feet.
In addition to converting Pamida stores, Shopko plans to add other new Shopko Hometown stores in the later part of 2012 and into 2013, according to the release.
One of those stores is being proposed in Brodhead. C.D. Smith Construction has proposed developing the land at the southwest corner of Wisconsin 11 and 25th Street. The Fond du Lac company would buy the land and build a commercial facility, with the tentative tenant being Shopko. The proposed store is just over 35,500 square feet.
The developer is seeking up to $625,000 in TIF assistance over 16 years for the $2.5 million project. In December, the Brodhead plan commission offered $500,000 in TIF assistance over 10 years. A decision on the project is still pending.
Shopko officials said the merger will not change existing Shopko stores, which are typically about 90,000 square feet. About $80 million will be invested over the next 12 months to convert most of Pamida's locations to Shopko Hometown stores, according to company officials.
Over the past two years, Shopko has purchased seven stores from Pamida and converted them to the Shopko Hometown format.
Shopko operates 149 stores in 13 states and has annual revenues of $2 billion. Pamida, based in Omaha, Neb., operates 193 stores in 17 states and has revenues of approximately $1 billion.
The combined company will use the Shopko name and will be headquartered in Green Bay. It will have nearly 350 locations in 22 states.
Financial details of the merger, which is expected to close in mid-February, were not disclosed.