NEW YORK, Oct. 23, 2015 (GLOBE NEWSWIRE) -- Hilco Streambank (www.hilcostreambank.com) has been hired as the intellectual property disposition and sales agent of The Great Atlantic & Pacific Tea Company, Inc. ("A &P"). The sale includes all intellectual property associated with the following store banners – A &P®, Pathmark®, Waldbaum's®, Super Fresh®, Food Basics® and Best Cellars® -- and private label product brands such as America's Choice®, Woodson & James®, Green Way™, Jane Parker®, Via Roma®, and Live Better® among others. The sale is being conducted pursuant to Section 363 of the Bankruptcy Code in A &P's Chapter 11 case pending in the United States Bankruptcy Court for the Southern District of New York. The bid deadline is November 19, 2015 at 5:00 PM (EST).
The A &P brand has a rich history in the development of modern retail grocery. The Company opened its first shop in 1859 on Vesey Street in NYC and established The Great Atlantic & Pacific Tea Company brand to commemorate the Transcontinental Railway in 1869. At its height, the A &P banner was spread from coast to coast. A &P generated total gross sales of approximately $6.5, $5.8, and $5.5 billion in 2012, 2013, and 2014 respectively. As of October 2015 the Company operated 297 stores under its various banners throughout New Jersey (103), New York (135), Pennsylvania (34), Connecticut (14), Delaware (9), and Maryland (2).
"The A &P banners, trademarks and brands have longstanding and strong recognition by consumers in the Northeast as well as other markets throughout the country," said Hilco Streambank EVP – David Peress. "A &P offers a robust portfolio of private label brands across multiple categories with innovative formulations and labeling, accompanied by rich content including signage, websites and videos," Mr. Peress added.
Parties interested in learning more about these assets, the sale process and other bidding requirements should contact Hilco Streambank directly using the contact information provided below.
About Hilco Streambank
Hilco Streambank is a market leading advisory firm specializing in intellectual property disposition and valuation. Over the last three years Hilco Streambank has become a leader in the IP valuation and disposition market, representing brands across various industries. Having completed numerous transactions including sales in publicly reported Chapter 11 bankruptcy cases, private transactions, and online sales through HilcoDomains.com and IPv4Auctions.com, Hilco Streambank has established itself as the premier intermediary in the consumer brand, internet and telecom communities. Hilco Streambank is part of Northbrook, Illinois based Hilco Global (www.hilcoglobal.com), a worldwide financial services company and leader in helping companies maximize the value of their assets.
For questions or more information regarding the A &P intellectual property, please contact:
Executive Vice President
For media and press:
A &P Public Relations
Dan Gagnier/Meghan Gavigan/Brian Shiver
Sard Verbinnen & Co
CONTACT: Gary C. Epstein EVP - Chief Marketing Officer Hilco Global email@example.com (847) 418-2712
Source: Hilco Global