Shopko Optical is purchased
By Rapids City Times staff
MARSHFIELD – On May 16, New York private investment firm and lone bidder, Monarch Alternative Capital LP completed its purchase of Shopko Optical.
Monarch will move the optical locations to new store fronts, while relocating 80 stores, including Marshfield, Plover, Stevens Point, and Wisconsin Rapids.
“We are excited to welcome Shopko Optical into our portfolio and to invest in the company’s growth as we move forward with our strategy,” Monarch Co-Founder and Managing Principal Andrew Herenstein said in a press release. “Monarch has a long, successful history of investing in great companies undergoing transitions and working alongside their leadership teams to build strong, vibrant businesses of the future.”
The Wisconsin-based Shopko company announced March 18 that it would close its remaining 120 stores.
The last Shopko store is expected to close June 23.