A&P TO ACQUIRE 24 FOOD BASICS

MONTVALE, N.J. -- A&P here last week said that a Canadian court has approved the company's proposed settlement of a class-action franchisee lawsuit.The company will pay $32 million, about half of which will be used to acquire 24 stores operated by franchisees who filed the suit. The acquisition could impact A&P's sales and profit structure in Canada, analysts said.A total of 29 current and former

MONTVALE, N.J. -- A&P here last week said that a Canadian court has approved the company's proposed settlement of a class-action franchisee lawsuit.

The company will pay $32 million, about half of which will be used to acquire 24 stores operated by franchisees who filed the suit. The acquisition could impact A&P's sales and profit structure in Canada, analysts said.

A total of 29 current and former franchisees of A&P's Food Basics price-impact chain in Canada had s

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