A&P Supermarket Considers Putting Itself Up for Sale

The grocery chain insists it is not in distress

   

ap supermarket 300x225 A&P Supermarket Considers Putting Itself Up for SaleAccording to an internal document leaked to the Wall Street Journal, the Great Atlantic & Pacific Tea Company (A&P) is looking for a buyer.

In a memo distributed to store managers earlier this week, the company’s chairman indicated that selling the company is one means of raising capital currently under consideration by senior management. The supermarket chain emerged from bankruptcy protection last year and could be worth as much as $1 billion.

grocery checkout 630 200x200 A&P Supermarket Considers Putting Itself Up for Sale
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A sale to a private equity firm or rival supermarket chain is the most likely choice for A&P, according to an inside source.

An spokesperson for A&P said that the company was not in distress, but was simply exploring the best way to raise new capital.

Earlier this month, Kroger (KR) announced plans to purchase regional grocery chain Harris Teeter Supermarkets (HTSI) in a $2.5 billion all-cash deal


Article printed from InvestorPlace Media, http://investorplace.com/2013/07/ap-supermarket-considers-putting-itself-up-for-sale/.

©2014 InvestorPlace Media, LLC

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