Business Services Industry
Deal May Be in Works for British-Owned Kings Super Markets.
Knight Ridder/Tribune Business News, January, 2002
By Kevin G. DeMarrais, The Record, Hackensack, N.J. Knight Ridder/Tribune Business News
Jan. 8--Gristede's, the upscale New York City-based chain, has emerged as the front-runner in the bidding to purchase Kings Super Markets Inc. from its British owners.
A deal could be finalized within the next week, although the deadline set by the chain's British owner, Marks & Spencer PLC, is more than two months away.
"We've talked to them, and it looks like we're going to have additional meetings," said John Catismatidis, the chairman and chief executive of Gristede's and its parent, Red Apple Group Inc.
"Everyone has been away the last few weeks," he said Monday. "We should know better by the end of the week.
Catismatidis would...
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