A&P said to be poised for sale
A&P said to be poised for sale
At one time the largest U.S. supermarket chain with more than 15,000 stores, the Great Atlantic & Pacific Tea Co. could be on its way out of the supermarket business.
The Montvale, NJ-based retailer is said to be positioning itself for sale, according to a joint statement issued by representatives of 11 food union locals, which said they are “well aware of the rumors circulating about the potential sale of the A&P company in whole or in part.”
A&P, which emerged from bankruptcy protection in 2012, told The Record newspaper on June 16 that the company continues to weigh its options and that it is exploring strategic alternatives.
In a statement, A&P said the review process “is ongoing and no decisions have been made,” and that there is no timetable for a decision.
The New York Post reported on June 17 that A&P is actively shopping 137 of its stores, including 10 Food Emporium locations in New York City.
A&P has been looking for a buyer for some time now. In 2013, the company hired Credit Suisse to help it explore strategic alternatives, including the possible sale of the company. At the time, Kroger and Ahold had been mentioned as possible buyers, as was C&S Wholesale Grocers.
A&P currently operates approximately 300 stores in six states under the A&P, Pathmark, Food Basics, Waldbaum’s, Superfresh and Food Emporium banners.