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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.
COPYRIGHT 2003 Reproduced with permission of the copyright holder. Further reproduction or distribution is prohibited without permission.
COPYRIGHT 2008 Gale, Cengage Learning
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