Business Services Industry
New York-Based Supermarket Company Moves to Fore in Bid on British-Owned Chain.
Knight Ridder/Tribune Business News, March, 2002
By Kevin G. DeMarrais, The Record, Hackensack, N.J. Knight Ridder/Tribune Business News
Mar. 16--D'Agostino is trying to move closer to you.
Gristede's, the well-known New York-based chain that was the apparent front-runner to take over Kings Super Markets two months ago, is out of the picture, at least for now, leaving another popular New York chain, D'Agostino Supermarkets, as the strongest outside candidate to acquire Kings from its British owners, The Record has learned.
D'Agostino's "is the preferred bidder," with Gristede's "still in the picture," but only if negotiations with D'Agostino's break down, a person close to the negotiations said Friday. The price is around $160 million, two other insiders said.
A third bidder, a...
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