Fairway Market's $82M Sale to Wakefern, Key Food and Amazon

- Advertisement -

Fairway Market's $82M sale to Wakefern, Key Food and Amazon

March 27, 2020

1 / 2

As part of its Chapter 11 bankruptcy protection cases Fairway Market has announced winning bids for six Fairway stores — five to Wakefern member Village Supermarket Inc., one two Key Food member Seven Seas Georgetowne LLC — and the sale of two real estate leases to Amazon Retail LLC.

Village's winning bid includes four of Fairway's Manhattan stores as well as Fairway's production and distribution center for a purchase price of approximately $76 million. Seven Seas' winning bid is for the Georgetowne store in Brooklyn for a purchase price of approximately $5 million. Amazon's winning bid is for the leases in Paramus and Woodland Park in New Jersey for a purchase price of $1.5 million.

Fairway Market continues to serve its communities by operating all of its stores, including stores not sold during the court-supervised auction, and intends to do so for the foreseeable future to accommodate the current public need for our products.

"We are pleased with the outcome of the auction and are grateful for our dedicated and hard-working employees, suppliers and distributors during this process which has taken place in these unprecedented times," said Abel Porter, chief executive officer at Fairway Market. "Serving our community has always been our top priority and we remain committed to providing quality items and a safe shopping environment for our customers and our employees during this global health crisis."