Kings’ Levitan to Return Phone Calls

Discussion
Dec 03, 2002
George Anderson

By George Anderson


Note to potential bidders who have not had their calls returned: Alan Levitan, president and chief executive, Kings Super Markets and/or an executive from parent company Marks and Spencer will be getting back to you shortly.


With the announcement that the deal for D’Agostino Supermarkets to buy Kings has fallen through, the upscale New Jersey supermarket chain is on the market – again.


The deal fell through when D’Agostino’s was unable to secure the financing necessary for the purchase. This follows the collapse of a previously agreed upon deal with Gristede’s that failed for the same reason.


Mr. Levitan told the Daily Record, “I can tell you that during the exclusivity period (July 22 – November 30), there were several phone calls by other parties interested in Kings that were not returned. I suspect they will now be returned.”


Both Nick D’Agostino Jr. and John Catsimatidis, chairmen and chief executives of D’Agostino’s and Gristede’s respectively are said to be still interested in pursuing a deal to buy Kings. No comment has been made on other possible suitors.


Moderator’s Comment: Where does Kings go from here?


We’re sorry to see the Kings/D’Agostino deal fall through.
We thought the chains would be a good fit. Gristede’s would have worked also.


Perhaps Marks and Spencer should be looking further upstate
in New York for a potential buyer. Personally speaking, we sure wish Danny Wegman
and Alan Levitan would speak. [George
Anderson – Moderator
]

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