Fairway, Private Equity Firm Partner for Expansion

NEW YORK -- Fairway Market here has received an undisclosed investment from the private equity group Sterling Investment Partners, which will help the specialty food retailer expand to new locations, the firms said Friday. Fairway, which operates four stores in New York known for extensive offerings of fresh goods and specialty items, is currently negotiating two leases in the metropolitan area. Sterling, based in Westport, Conn., is a private equity firm specializing in middle-market companies with more than $1 billion currently under management. Its partnership with Fairway includes an undisclosed ownership stake. Howard Glickberg, whose grandfather founded Fairway‘s original location in Manhattan, would continue to serve as Fairway‘s chief executive officer and along with his son Dan will continue to oversee all operations, Fairway said.