MONTVALE, N.J. — A&P here is expected to announce a deal to sell its 16 Manhattan Food Emporium stores as early as next week, a source told SN Wednesday.
The chain is expected to be sold to multiple bidders, according to the source.
A report published by Crains New York Business last week indicated one of the likely buyers is Angelo Gordon Supermarkets, the private-equity owner of the Kings Food Markets and Balducci’s chains. Kings, based in Parsippany, N.J., recently expanded to Connecticut for the first time and has long been interested in expanding to Manhattan.
A&P confirmed the chain was for sale last year but has declined to comment on the process since. It said Food Emporium’s “unique urban footprint” suited it to be marketed to a variety of prospective buyers.
Read more: A&P Seeks to Divest Food Emporium
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