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Key Food acquires SuperFresh banner from A&P
Key Food Stores Co-Operative said Tuesday that it has acquired the SuperFresh brand from bankrupt A&P, with an eye on using the banner for new and existing stores, and potential acquired locations.
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Key Food Stores Co-Operative said Tuesday that it has acquired the SuperFresh brand from bankrupt A&P, with an eye on using the banner for new and existing stores, and potential acquired locations.
The Staten Island, N.Y.-based cooperative said it was "planning to open several stores under the SuperFresh banner in the near future, the first of which may be as early as this month."
The company said it would use the name primarily for its larger, suburban-style stores.
Key Food previously acquired the intellectual property of A&P's Food Emporium banner in a bankruptcy auction, using that name on properties it acquired from A&P in Manhattan. Key Food acquired 24 stores from A&P during A&P's wind-down in Chapter 11.
SuperFresh origins date to Philadelphia in 1982 when the banner was created as part of a deal with organized labor at A&P stores there. The banner previously operated on stores around greater Philadelphia, as well as Baltimore-Washington and New Orleans.
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"Key Food is proud to acquire the SuperFresh banner and have the opportunity to offer shoppers even more grocery options through some of our larger format stores under the SuperFresh name," Dean Janeway, CEO of Key Food, said in a statement.
Key Food plans to “better” the SuperFresh banner and build on its strengths, the company added. The banner will be primarily used for larger format stores in suburban areas where Key Food plans to rebrand certain existing stores that fit this model, as well as with new store acquisitions.
Peter J. Solomon Co. served as exclusive financial advisor to Key Food and Ropes & Gray LLP served as Key Food’s lead outside legal counsel on the transaction. A purchase price was not disclosed.
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