The sale of Food Emporium may be “imminent,” with owner A&P leaning towards selling the grocery store chain to multiple buyers, including companies outside of the grocery industry, according to Crains New York.
The newspaper reported that investment banking firm Duff & Phelp is fielding final bids, including one from Parsippany, N.J.-based Kings Food Markets, which is owned by private equity firm Angelo Gordon & Co. Kings Food operates 24 stores in New Jersey and Long Island and has been interested in coming to the city, the report said, citing an industry source.
In addition, Gristedes' owner John Catsimatidis also submitted a bid to buy Food Emporium, which has 16 stores in New York City and one in New Canaan, Conn.
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