43°
Stop & Shop announced in January, 2019 its plans to buy King Kullen, including 32 locations (three have since closed), five Wild by Nature organic supermarkets and the King Kullen corporate office in Bethpage.
The deal had been set to close on Thursday, April 30, 2020.
However, due to the COVID-19 pandemic, the two chains said they are killing the deal because of “significant, unforeseen changes in the marketplace.”
“Both companies have put forth an incredible amount of effort to work through unanticipated challenges that have arisen, and we regret that we’re not able to move forward,” Stop & Shop President Gordon Reid said in a statement.
“King Kullen has a strong legacy on the island, and we wish them continued success. Stop & Shop remains committed to the Long Island community, to serving our customers in the market well, and to investing in our associates and our stores in Nassau and Suffolk counties.”
Brian Cullen, co-president of King Kullen, added: “We look forward to continuing to focus on what we do best: serving our great customers across Long Island and supporting our hard-working store associates.
"We are enthusiastic about the future and well-positioned to serve Nassau and Suffolk counties for many years to come. In short, we are here for the long term.”
Click here to follow Daily Voice Rye and receive free news updates.
