Bethpage - Stop & Shop announced today it has agreed to acquire King Kullen Grocery Co., Inc. The agreement includes King Kullen’s 32 supermarkets, five Wild by Nature stores and the use of its corporate office located in Bethpage, N.Y.
“King Kullen is a well-respected grocery chain in the Long Island market that has an 88-year tradition of excellent customer service,” said Mark McGowan, President of Stop & Shop. “We look forward to bringing our quality, selection and value to more communities in Nassau and Suffolk Counties.”
The acquisition is currently expected to close during the first quarter of 2019, subject to customary closing conditions.
"In 1930, Michael J. Cullen opened the first King Kullen and ushered in the era of the great American supermarket,” said Brian Cullen, Co-President of King Kullen Grocery Co. “As a family-owned and operated business, we are very proud of our heritage and extremely grateful to all of our associates and customers for their support over the years. We are confident the Stop & Shop brand will carry on our legacy of service in the region."
The Food Partners, LLC served as the financial and strategic advisor to Stop & Shop. JP Morgan served as the financial and strategic advisor to King Kullen.