If ever there was a grocery story in the process of a major overhaul, it would be Roundy's (UNKNOWN:RNDY.DL). This parent company to a host of grocery stores in Wisconsin, Illinois, and Minnesota has seen its stock lose almost half its value since its 2012 IPO.

To understand the business, you have to understand that it really operates in two different segments. Its legacy grocery stores in Wisconsin and Minnesota operate under the Pick 'n Save, Rainbow, Copps, and Metro Market banners, and these stores have struggled mightily. However, 25 stores under the "Mariano's Fresh Market" name in Chicago are doing quite well.

Right now, shares trade hands for just nine times earnings. But before diving in, there are three things every investor needs to know about Roundy's year thus far. Check out the slideshow below to learn more.