Stop & Shop to Acquire King Kullen Grocery Co.

Stop & Shop to Acquire King Kullen Grocery Co.

January 04, 2019 11:30 ET | Source: Stop and Shop

QUINCY, Mass., Jan. 04, 2019 (GLOBE NEWSWIRE) — Stop & Shop announced today it has agreed to acquire King Kullen Grocery Co., Inc. The agreement includes King Kullen’s 32 supermarkets, five Wild by Nature stores and the use of its corporate office located in Bethpage, N.Y.

“King Kullen is a well-respected grocery chain in the Long Island market that has an 88-year tradition of excellent customer service,” said Mark McGowan, President of Stop & Shop. “We look forward to bringing our quality, selection and value to more communities in Nassau and Suffolk Counties.”

The acquisition is currently expected to close during the first quarter of 2019, subject to customary closing conditions.

“In 1930, Michael J. Cullen opened the first King Kullen and ushered in the era of the great American supermarket,” said Brian Cullen, Co-President of King Kullen Grocery Co. “As a family-owned and operated business, we are very proud of our heritage and extremely grateful to all of our associates and customers for their support over the years. We are confident the Stop & Shop brand will carry on our legacy of service in the region.”

The Food Partners, LLC served as the financial and strategic advisor to Stop & Shop. JP Morgan served as the financial and strategic advisor to King Kullen.

About Stop & Shop
A neighborhood grocer for more than 100 years, today’s Stop & Shop is refreshed, reenergized and inspired, delivering new conveniences for customers. Committed to helping its communities enjoy better food and better lives, Stop & Shop has a longstanding history of giving back to the neighborhoods it serves with a focus on fighting hunger and helping children to enjoy a healthy lifestyle. The Stop & Shop Supermarket Company LLC is an Ahold Delhaize USA Company and employs more than 61,000 associates and operates over 400 stores throughout Massachusetts, Connecticut, Rhode Island, New York and New Jersey. To learn more about Stop & Shop, visit stopandshop.com.

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