Gryphon Investors, a San Francisco-based private equity firm, has announced that together with its co-investors it has completed the purchase of the Eight O’Clock Coffee Company from The Great Atlantic & Pacific Tea Company (A&P).
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Eight O’Clock will operate as a stand-alone company and continue to manufacture its whole bean and ground coffee for the US and Canadian markets. It will remain headquartered in Montvale, New Jersey, with its roasting facility in Landover, MD, and will retain its existing employee base.
When announcing it was to sell the coffee business, supermarket operator A&P said the sale was part of its asset divestiture initiative, aimed at lowering debt and reducing operating costs.
