MONTVALE, N.J. — A&P here has sought out investor interest in its Food Emporium banner, according to reports.
As SN reported last month, the high-end Food Emporium banner, which operates 16 stores in Manhattan and one in Connecticut, was a possible candidate for divestiture as A&P seeks to shed "non-core" assets. Karen Short, an analyst with BMO Capital Markets, told SN the banner could fetch about $200 million.
According to a report Thursday in the Wall Street Journal, investment bank Peter J. Solomon "has made an effort to gauge potential buyer interest in the Food Emporium chain," citing a private equity investor.
Neither A&P nor the investment bank could be reached for comment.
No Food Emporium locations were on the list of 25 stores A&P last month said were slated for closure.