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Article: MERGERS & ACQUISITIONS.(Brief Article)
- Article from:
- The Food Institute Report
- Article date:
- January 21, 2002
CopyrightCOPYRIGHT 2002 The Food Institute. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Ahold's Stop & Shop Supermarket Co., Quincy, MA, has entered into a letter of intent with representatives of the creditors of Florida, NY-based Big V Supermarkets to acquire 27 of the stores and other assets of the company for $255 million. Big V, which filed for bankruptcy in November 2000, operates 31 supermarkets in the Hudson Valley in New York as Shop Rite Supermarkets. Earlier this week, Big V entered into an agreement to sell substantially all of its assets to the Wakefern Food Cooperative. The Stop & Shop Supermarket Co. operates 321 stores in Massachusetts, Rhode Island, Connecticut, New York and New Jersey.
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