Business Services Industry
Three-Year Sales Process Continues for Parsippany, N.J., Grocery Chain.
Knight Ridder/Tribune Business News, September, 2002
By Kevin G. DeMarrais, The Record, Hackensack, N.J. Knight Ridder/Tribune Business News
Sep. 20--Nearly three years after it first went on the selling block and two months after a sale to D'Agostino Supermarkets was formally announced, Kings Super Markets Inc. remains in the hands of its British owners.
Officials on both sides of the Atlantic say the payment of the $160 million needed to finalize the sale of the Parsippany-based chain is close, but a spurned bidder -- Gristede's Foods Inc. -- is patiently waiting in case the deal falls through.
Based on history, almost anything seems possible.
The three-year, on-again, off-again, twist-filled selling process appeared to end July 22, when London-based Marks & Spencer Group PLC...
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