WSJ reports that A&P is for sale
MONTVALE, N.J. — The Wall Street Journal reported that grocer A&P, which emerged from bankruptcy about a year ago, is up for sale, according to an internal memo the publication obtained.
The WSJ reports that the memo, sent by chairman Gregory Mays and circulating to employees, outlines several options for the company to fund its growth, including raising capital and refinancing. The memo also states that a sale of the company is possible.
Sources familiar with the matter told the WSJ that a sale is the most likely option and that, in fact, the process has already started and is in the early stages.
The article states that the grocer could be valued at $1 billion or more, and potential buyers could include Kroger and Ahold as well as buyout firm Cerberus Capital Management.
Click here to read WSJ's report.