FTC to Allow Sale of Wayne, N.J., Bankrupt Grocery Stores to Wholesale Firm.(Knight Ridder/Tribune Business News)

Knight Ridder/Tribune Business News, February, 2001 by Simon, Ellen

Feb. 3--Grand Union Co. said yesterday the Federal Trade Commission will permit the $301.8 million sale of the company to C&S Wholesale Grocers.

The transaction is expected to close Feb. 16, Grand Union said.

C&S, in turn, will sell most of the 185 stores it's buying to grocery chains and either sell the remaining stores to independents or run them itself. The company does not yet know how many stores it will run, said Mark Gross, senior vice president and general counsel for C&S. The company should know within 30 days, he said.

C&S will sell 64 stores and store sites to Dutch-based royal ahold, which operates Stop & Shop supermarkets, for $178 million. It will sell 20 stores to Shaws and six stores to Pathmark. Terms of those deals have not...

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