The Federal Trade Commission (FTC) yesterday ruled that the Great Atlantic & Pacific Tea Co. (A&P) can acquire Pathmark Stores – though the FTC also said that the combined entities have to sell six stores in order to alleviate concerns about competitive imbalances.
As a result, according to a Reuters report, four Waldbaum’s supermarkets owned by A&P and one Pathmark supermarket on Staten island, as well as one Waldbaum’s supermarket on Long Island, will be divested by January 10, 2008.
The five Staten Island stores reportedly will be acquired by King Kullen, while the Long Island unit will be sold to Ahold-owned Stop & Shop.
The FTC ruling prohibits A&P from opening new stores on Staten Island – which is one of the five boroughs that make up New York City – for the next decade.
According to the Reuters story, the FTC approval is provisional, with the public able to comment on the deal until December 27, after which the FTC would decide whether to make it final.
As a result, according to a Reuters report, four Waldbaum’s supermarkets owned by A&P and one Pathmark supermarket on Staten island, as well as one Waldbaum’s supermarket on Long Island, will be divested by January 10, 2008.
The five Staten Island stores reportedly will be acquired by King Kullen, while the Long Island unit will be sold to Ahold-owned Stop & Shop.
The FTC ruling prohibits A&P from opening new stores on Staten Island – which is one of the five boroughs that make up New York City – for the next decade.
According to the Reuters story, the FTC approval is provisional, with the public able to comment on the deal until December 27, after which the FTC would decide whether to make it final.
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