NEW YORK -- Drug store chain Duane Reade here said it will purchase eight Manhattan Gristedes supermarkets and convert them into drug stores. Terms of the deal, which is expected to be completed by the end of June, were not disclosed. John Catsimatidis, chairman of Gristedes, declined to identify the stores that were sold but told SN they were among the chain‘s 43 currently operating stores. “The intrinsic real estate values far exceeded the enterprise value of the business,” he said, adding ...
REGISTER TO VIEW THIS ARTICLE - Register for a Free Account
Registering for content on Supermarket News will give youINSTANTaccess to invaluable articles and media content that industry professionals rely on. You will have access to our special reports, feature articles, and industry analysis. It’sFREE, easy and quick. What are you waiting for!In addition you will also receive a complimentary copy of SN's salary survey sent to you by email.
Attention Paid Print Subscribers: While you have already been grantedfreeaccess to SNwe ask that youregister now.We promise it will only take a few minutes! Or visit your profile and add your print magazine account number and zip code.