US retailer A&P has finally secured the takeover of regional chain Pathmark Stores.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The US$1.4bn deal was first agreed in March but had been held up while the Federal Trade Commission analysed the potential impact on local competition.
Last week, as a condition for its approval, the FTC ordered A&P to sell six outlets once the acquisition was sealed.
The deal will form a chain of 450 outlets generating some US$9.4bn in annual sales. The company will become the leader in New York’s metropolitan area.
A&P executive chairman Christian Haub said: “The merger of these iconic brands will transform A&P’s financial performance, efficiency and competitiveness, create substantial value for shareholders, and offer enhanced security and opportunity for associates.”
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
