June 9, 2022

Kohl’s has entered negotiations with a potential buyer.

Kohl’s Corp. announced that it has entered into an exclusive three-week negotiation period with Franchise Group Inc. after receiving final proposals from interested buyers.

Franchise Group includes businesses such as The Vitamin Shoppe, Pet Supplies Plus and Sylvan Learning, all of which have locations in Sioux Falls.

Kohl’s has more than 1,100 stores, including two in Sioux Falls, making it the largest department store chain in the U.S.

The company has offered to pay $60 per share for Kohl’s, according to a news release from Kohl’s.

The sale must be approved by the boards of each publicly traded company.

CNBC has a thorough look at both companies and what could happen if the sale goes happens.