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Key Food Stores Co-Operative Inc. has acquired the SuperFresh banner name and related intellectual property assets from the bankrupt Great Atlantic & Pacific Tea Co. (A&P). Key Food has revealed plans to open several stores under the SuperFresh banner in the immediate future, the first of which could debut as early as this month.
According to the Staten Island, N.Y.-based retailer cooperative, it intends to “better” the SuperFresh banner by building on its strengths. The banner will appear mainly on larger-format stores in the suburbs, where Key Food will rebrand certain existing locations that fit this model, in addition to giving the name to new store acquisitions.
One of the fastest-growing retailers in the Northeast, Key Food last year purchased 24 stores from A&P.
Peter J. Solomon Co. was the exclusive financial adviser to Key Food, and Ropes & Gray LLP was the co-op’s lead outside legal counsel for the transaction.
Key Food consists of 217 primarily member-owned and corporate grocery stores, which operate under the Key Food, Food Universe, Key Food Marketplace, Key Fresh & Natural, Food Dynasty, The Food Emporium (also acquired from A&P), Urban Market, SuperFresh, and various other banners in all five New York City boroughs, Long Island, upstate New York, New Jersey, Connecticut and Pennsylvania.