Giant said last week that it has reached an agreement with Natural Market Restaurant Group to buy two Fresh & Green's stores in the Baltimore area. Both stores were among the eight Fresh & Green's branded stores that Natural Market Restaurant Group bought from A&P last year.
The transaction could close as early as tomorrow, and the transition to the Giant banner is expected to take 6-8 weeks. An existing Giant that is close to one of the Fresh & Green's locations being sold will soon close.
Earlier this month Giant announced that it would buy 16 Genuardi's stores in Pennsylvania for $106 million.
Showing posts with label natural market. Show all posts
Showing posts with label natural market. Show all posts
Tuesday, February 7, 2012
Friday, June 10, 2011
More hurdles in the sale of Mid-Atlantic Super Fresh stores
Ten days ago I wrote about one landlord's objection to A&P's sale of a Super Fresh store to Mrs. Green's Natural Market on the basis that it could not be sure the new tenant could meet the obligations of the lease. Since that time, more objections have been filed.
Another landlord has filed a similar objection regarding Mrs. Green's and the existing lease obligations, and a third landlord's objection states that A&P was responsible for property improvements.
Not surprisingly, unions have their concerns as well. One union that represents employees at some of the stores has argued that the sale of the 12 stores shouldn't be allowed until it makes sure its succession rights are preserved. Another union is objecting to a footnote it says can be interpreted to mean A&P can reject the contract if an agreement with the new operator isn't reached.
The CEO for Natural Market Restaurants, the Toronto-based retail group that includes Mrs. Green's Management Co., said yesterday the company's first priority is to meet with unions and landlords. In response to concerns about the financial stability of his company, he said cash flow has grown 58% in the past 12 months.
* Sources include Supermarket News.
Another landlord has filed a similar objection regarding Mrs. Green's and the existing lease obligations, and a third landlord's objection states that A&P was responsible for property improvements.
Not surprisingly, unions have their concerns as well. One union that represents employees at some of the stores has argued that the sale of the 12 stores shouldn't be allowed until it makes sure its succession rights are preserved. Another union is objecting to a footnote it says can be interpreted to mean A&P can reject the contract if an agreement with the new operator isn't reached.
The CEO for Natural Market Restaurants, the Toronto-based retail group that includes Mrs. Green's Management Co., said yesterday the company's first priority is to meet with unions and landlords. In response to concerns about the financial stability of his company, he said cash flow has grown 58% in the past 12 months.
* Sources include Supermarket News.
Tuesday, May 31, 2011
Landlord Objects to Super Fresh Sale to Green’s Natural Market
In the article below, Supermarket News reports on a landlord's objection to the sale of and by its tenant, Superfresh, to Mrs. Green's Natural Market. The landlord, Apex Management, says its lease with Superfresh states that successor tenants must demonstrate a financial condition similar to the original tenant at the time the original lease is signed. According to Apex, the financial condition of Mrs. Green's and it's parent company, Planet Organic, are not even close to being similar to Superfresh's (A&P's) financial condition in 1962, when the supermarket had the 2011 equivalent of $37 billion in annual sales.
Stay tuned...
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