Key Food Acquires 23 A&P Stores, Saves 1,800 Jobs

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Key Food acquires 23 A&P stores, saves 1,800 jobs

October 22, 2015

Key Food Stores Co-Operative Inc., a supermarket co-operative with independently owned and operated stores, will be adding 23 new stores that it is purchasing from the Great Atlantic & Pacific Tea Co, preserving approximately 1,800 jobs of current A&P employees. The purchase, which will bring Key Food to 212 stores, will add approximately $400 million dollars in annual retail sales and bring total annual retail sales to $2.3 billion dollars.

The new stores have been operating under the A&P banner (three stores), the Food Basics banner (three stores), the Food Emporium banner (four stores), the Pathmark banner (three stores), and the Waldbaum’s banner (10 stores) in various locations throughout New York and New Jersey.

“Key Food is proud to add the A&P stores to our supermarket family and to continue to serve the communities where these stores are located," Dean Janeway, Key Food’s chief executive officer, said in a press release. "The customers of these stores deserve a high-quality neighborhood grocery store and we are thrilled to be able to play that role. This is an exciting time for our company as we continue to grow and serve even more loyal customers throughout New York and New Jersey.”

The stores being acquired from A&P vary in size and will be opened under the Key Food and Food Universe banners, among others. Two of the stores will be operated by the co-operative at the corporate level, a first for Key Food, all of whose stores currently are member owned and operated. The corporate owned stores will operate under the Food Universe banner.

Key Food expects to complete the purchase of all 23 of the A&P stores by mid-November. Grand opening celebrations will take place throughout the spring.

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