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Industry: Email Alert RSS FeedA&P completes sale of coffee division
Drug Store News, Dec 15, 2003
MONTVALE, N.J. -- The Great Atlantic & Pacific Tea Co., also known as A&P, has completed the previously announced sale of its Eight O Clock Coffee division to Gryphon Investors, a San Francisco-based private equity firm, for cash and a note.
The company realized proceeds of $107.5 million and received a contingent note for up to $20 million, the value and payment of which is based on certain elements of the future performance of the Eight O'Clock business.
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Lehman Brothers served as the financial advisor for the transaction.
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