Village Super Market agreed to buy five supermarkets, a production distribution center and the intellectual property of Fairway, including the names “Fairway” and “Fairway Markets.”
- Four of the supermarkets are in Manhattan, specifically the Upper West Side, Upper East Side, Kips Bay and Chelsea locations, and a fifth store is located in Pelham, N.Y.
- The cash purchase price will be reduced by a $2.1m credit arising from the breakup of Village’s initial “stalking horse” bid
- Acquisition is subject to bankruptcy court approval at a hearing scheduled for April 14
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