Wisconsin-based Kohl's Corp. is in negotiations to sell the company to the group that runs Vitamin Shoppe stores.
The Milwaukee Journal Sentinel reports that the Menominee Falls-based retailer said Monday that it has entered negotiations with Franchise Group Inc. to acquire the company at $60 per share.
That translates to about $8 billion. Franchise Group posted a statement saying it plans to finance the purchase by issuing $1 billion of debt and use the value of Kohl's real estate holdings to finance the rest.
In addition to Pet Supplies Plus and The Vitamin Shoppe, its brands also include American Freight, Badcock Home Furniture & more, Buddy’s Home Furnishings and Sylvan Learning.
Kohl’s has more than 1,100 stores and 100,000 employees.
