New York – The Great Atlantic and Pacific Tea Co. (A&P), which exited bankruptcy last year, is reportedly looking to sell itself. A report in the Wall Street Journal indicates that an internally distributed company memo from A&P chairman Gregory Mays to store managers states a sale of A&P is one of several options for funding growth, along with raising capital and refinancing.
However, the report quotes an anonymous source as saying a sale is the most likely option.
The report lists buyout firm Cerberus Capital, as well as grocery conglomerates Kroger and Ahold, as possible bidders in the event of a sale. A&P reportedly may be valued at $1 billion or more. The company has not publicly responded to the report.