C&S Wholesale Grocers emerged the winner in the contest to acquire bankrupt wholesaler AWI.
The C&S bid to acquire AWI was approved in bankruptcy court in Wilmington, DE on October 29. Closing is expected in early November.
Sources tell Food World and Food Trade News that C&S was the winner in last week’s auction for the assets of AWI and White Rose.
Acme president Jim Perkins will remain the leader of the 100 store Malvern, PA based chain as the new leadership team at Albertsons has been named.
The auction to acquire AWI and sister company White Rose will take place on October 24 followed by a sale hearing on October 29 at which the winning bidder will likely be announced.
Members of UFCW Local 400 voted to ratify a new, four-years collective bargaining agreement with Kroger covering 3,500 employees in the Richmond and Tidewater areas.
Steve Burnham has been named to head Safeway’s Eastern Division, once the deal between Albertsons and Safeway is finalized.
AWI announced September 9 that it has entered into an asset purchase agreement with C&S in which C&S will purchase substantially all of AWI’s assets and will serve as a “stalking horse bidder” in a court approved auction process.
The 10-week standoff at Market Basket officially ended August 28 when Arthur T. Demoulas’ group announced it had acquired the 50.5 percent stake from the Arthur S. Demoulas faction.
Ahold continued its disappointing financial trend in the U.S., posting declining sales, operating income and margins for its fiscal second quarter ended July 13.