USA: A&P reaches agreement to sell coffee business
US regional supermarket chain Great Atlantic & Pacific Tea Company (A&P) has announced an agreement to sell its Eight O'Clock coffee division to Gryphon Investors, a San Francisco-based private equity firm. A&P said it will realise cash proceeds of US$107.5m and receive a contingent note for up to $20m, the value and payment of which is based on certain elements of the future performance of the business.
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