The Great Atlantic & Pacific Tea Co. Inc. (Montvale, N.J.) has announced separate agreements to sell nine supermarkets in northern New England to The Stop & Shop Supermarket Co. (Quincy, Mass.) and Big Y Foods (Springfield, Mass.).
A&P said it expects to realize about $80 million from the sales, which are subject to the satisfaction of customary conditions and regulatory reviews.
A&P said the transactions are part of a larger divestiture of its operations in northern New England, including the closure of its office in Springfield, Mass., and the planned sale of its remaining supermarkets in Massachusetts previously operated from that office. After completing the planned divestitures, the majority of the company's remaining supermarkets in New England will be operated under its New Jersey-based A&P banner organization.
A&P operates 692 stores in 15 states, Washington, D.C., and Ontario, Canada under the following trade names: A&P, Waldbaum's, The Food Emporium, Super Foodmart, Super Fresh, Farmer Jack, Kohl's, Sav-A-Center, Dominion, The Barn Markets, Food Basics and Ultra Food & Drug.