A&P Announces the Sale Of Madison, Wisconsin Supermarkets.Business Editors MONTVALE, N.J.--(BUSINESS WIRE)--Feb. 25, 2003 The Great Atlantic & Pacific Tea Company, Inc. (A&P)(NYSE NYSE See: New York Stock Exchange :GAP) today announced an agreement to sell seven Kohl's supermarkets in Madison, Wisconsin Madison is the capital of the U.S. state of Wisconsin and the county seat of Dane County. It is also home to the University of Wisconsin–Madison. The 2006 population estimate of Madison was 223,389, making it the second largest city in Wisconsin, after Milwaukee, and to The Copps Corporation, a subsidiary of Roundy's, Inc. (Pewaukee, Wisconsin Pewaukee is a city in Waukesha County, Wisconsin, United States. The population was 11,783 at the 2000 census. The city was incorporated from what was formerly the Town of Pewaukee. ). Completion of the transaction is subject to customary conditions and reviews. The Company, which currently operates 31 Kohl's stores in the Madison and Milwaukee markets, also announced that it is exploring the sale of the Milwaukee area stores. In addition, the Company announced that it is considering the sale of its Eight O'Clock coffee Eight O'Clock Coffee is the brand name of the light roast of coffee introduced by the American supermarket chain A&P in 1919. In the 1929s and 1930s Eight O'Clock coffee had gained over a quarter of the U.S. market share. In 1979 A&P licensed its division Compass Foods, Inc. business. Christian Haub, Chairman, President & Chief Executive Officer, said, "Today's announcements reflect our previously stated plan to reduce debt and lower operating costs operating costs npl → gastos mpl operacionales . Although difficult, these actions are necessary to revitalize our U.S. business and ensure the long-term success of the Company as a whole." A&P had previously announced the planned divestiture of operations in northern New England. The Company said that it does not foresee the sale of other parts of its business at this time. Founded in 1859, A&P is one of the nation's first supermarket chains, and is today one of North America's largest. The Company currently operates approximately 690 stores in 15 states, the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). 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. The Company also manufactures and distributes the Eight O'Clock line of whole bean coffees. |
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