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NEW YORK — Stop & Shop Supermarket Co. LLC and Acme Markets have agreed to buy stores from A&P, which earlier today announced it was filing for Chapter 11 bankruptcy protection and plans to sell off stores.
Stop & Shop plans to acquire 25 stores under the Pathmark, Waldbaum’s and A&P banners.
Stop & Shop, part of Ahold USA, said Monday that it plans to acquire 25 A&P stores in metropolitan New York for $146 million. The locations — 21 stores in New York and three in New Jersey, including 14 Pathmark, nine Waldbaum’s and two A&P stores — are slated to be converted into Stop & Shop stores upon completion of the transaction, expected within the second half of the year.
Overall, Stop & Shop operates 394 stores throughout Massachusetts, Connecticut, Rhode Island, New York and New Jersey.
“Stop & Shop is always looking for convenient locations to better serve our customers,” Don Sussman, president of Stop & Shop’s New York Metro Division, based in Purchase, N.Y., said in a statement. “We are very happy to have the opportunity to expand our presence in greater New York and serve new customers.”
On Monday evening, Acme Markets said it has entered an agreement to purchase 76 A&P stores in Connecticut, Delaware, Maryland, New Jersey, New York, and Pennsylvania under the A&P, Superfresh and Pathmark banners. Financial terms of the deal weren’t disclosed.
Malvern, Pa.-based Acme, a subsidiary of Albertsons parent AB Acquisition LLC, operates 107 stores — including Sav-On pharmacies at select locations — across Pennsylvania, Delaware, Maryland and New Jersey.
Both Stop & Shop and Acme noted that their agreements are subject to court approval under A&P’s bankruptcy case, and A&P could accept higher offers for the stores from other bidders.
In announcing its Chapter 11 filing, Montvale, N.J.-based A&P said has executed agreements to sell about 120 stores for approximately $600 million. The struggling supermarket retailer also said it plans to 25 stores in the near term. Published reports said Monday that Key Foods Cooperative, based in Staten Island, N.Y., also is slated to buy stores from A&P and that Long Island, N.Y., grocery chain King Kullen has expressed interest in some of the A&P locations.
Acme reported that A&P has asked the court for an order requiring other bidders to submit their bids by Sept. 11, with an expectation that court approval for the sale of the stores would be received by Oct. 15.
