FINANCE

Report: A&P to close 32 stores

BY CSA STAFF

New York City — A&P plans to close 32 stores in six states, including four in the New York City area, Crain’s New York reported.

Among the stores slated to close are 14 Pathmarks, seven Super Fresh shops, four A&Ps and three Waldbaums, according to the report.

A&P operates 395 stores in eight states and the District of Columbia under the banners A&P, Waldbaum’s, Pathmark, Best Cellars, The Food Emporium, Super Fresh and Food Basics. The company filed for Chapter 11 bankruptcy in December.

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FINANCE

AC Moore considering potential sale

BY CSA STAFF

Berlin, N.J. — A.C. Moore Arts & Crafts said Tuesday it is considering a potential sale of the company.

The arts-and-crafts retailer revealed that its board is looking at strategic options to boost shareholder value, which may also include corporate financing or raising capital. It said there has been third-party "expressions of interest," but that it won’t discuss any developments unless its board approves a specific transaction.

The company has hired Janney Montgomery Scott LLC as its financial adviser to assist with the process.

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FINANCE

Casey’s signs deal to buy Minnesota c-store locations

BY CSA STAFF

Ankeny, Iowa — Casey’s General Stores said Tuesday it has signed a definitive purchase agreement to acquire 11 convenience stores from NuWay Cooperative of Trimont, Minn.

All of the stores are located in Minnesota operating under the NuMart banner and will be immediately rebranded to Casey’s, according to the company. Terms of the acquisition were not disclosed.

"These are well-maintained locations that fit perfectly with the [company’s] business model of operating in smaller rural communities and further strengthens our existing marketing presence in southern Minnesota," CEO Robert J. Myers said in a statement.

The deal will be funded by existing cash and operating cash flow, Casey’s said.

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