Reports: A&P mulls sale - The Packer

Reports: A&P mulls sale

07/26/2013 01:26:00 PM
Pamela Riemenschneider

The Great Atlantic & Pacific Tea Co. could be up for sale for an estimated $1 billion, according to media reports.

The Wall Street Journal reported an internal memo to store managers regarding options to fund growth, including a sale.

News reports speculated A&P could be worth $1 billion and mentioned possible buyers including Cincinnati-based Kroger Co., Cerberus Capital Management LP and Netherlands-based Ahold.

A&P emerged from bankruptcy last year, and has more than 300 stores under the A&P, Pathmark and Food Emporium banners.

In an e-mailed statement, A&P chairman Greg Mays told Bloomberg the company strengthened its business coming out of bankruptcy and is now focused on capital for growth.

“Our goal is to build on our positive momentum and grow A&P in a way that benefits our customers, associates, suppliers and partners,” he said in the statement.

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Sam Martin    
Montvale  |  July, 26, 2013 at 02:17 PM

Most stores are damaged. Sale sign should read: Reduced For Quick Sale

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