A&P To Sell Northern New England Supermarkets.Business Editors MONTVALE, N.J.--(BUSINESS WIRE)--Feb. 7, 2003 The Great Atlantic & Pacific Tea Company, Inc. (A&P)(NYSE NYSE See: New York Stock Exchange :GAP) today announced separate agreements for the sale of nine supermarkets in northern New England New England, name applied to the region comprising six states of the NE United States—Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut. The region is thought to have been so named by Capt. , to The Stop & Shop Supermarket Company (Quincy, Mass.) and Big Y Foods (Springfield, Mass.). The Company said it expects to realize proceeds of approximately $80 million upon completion of the transactions which are subject to the satisfaction of customary conditions and regulatory reviews. A&P also said the transactions announced today are part of a larger divestiture The breakup of AT&T. By federal court order, AT&T divested itself on January 1, 1984 of its 23 operating companies, which became known as the Regional Bell Operating Companies (RBOCs). of operations in northern New England, to include the closure of its Springfield, Mass. office, and the planned sale of its remaining supermarkets in Massachusetts previously operated from that office. After completion of 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. 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 692 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 dominion, power to rule, or that which is subject to rule. Before 1949 the term was used officially to describe the self-governing countries of the Commonwealth of Nations—e.g., Canada, Australia, or India. , The Barn Markets, Food Basics
Food Basics is a no-frills Canadian supermarket chain created by A&P Canada to compete with the successful No Frills warehouse style supermarket operated by Loblaw. and Ultra Food & Drug. The Company also manufactures and distributes the Eight O'Clock line of whole bean coffees. |
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