Wakefern gets new financing deal

CIT Group said it has provided new financing to Wakefern Food Corp.

Wakefern, Keasbey, N.J., is the principal supplier to member-owned supermarkets that trade under the ShopRite and PriceRite banners. Through its wholly owned subsidiaries, Wakefern also directly operates 83 supermarkets under the ShopRite and PriceRite banners.

Proceeds of the facility will be used to finance new equipment and grocery store

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