MONTVALE, N.J. Grocer A&P has agreed to sell 19 New Orleans-area Sav-A-Center stores to Rouse’s Supermarket. In addition, two other Sav-A-Center units are being sold to other buyers, including an independent food retailer.
According to the company, nearly all current Sav-A-Center associates will be offered jobs by the new owners. The transfer of ownership of all stores is expected to be completed over a six-week period.
A&P stated that the move will complete is exit from non-core markets, enabling it to concentrate on the Northeast. Earlier this year, A&P announced an agreement to acquire Pathmark Stores, also based in the Northeast. The deal is currently under FTC review and is expected to close during the second half of A&P’s fiscal year 2007.