Hilco Streambank, an advisory firm specializing in intellectual property disposition and valuation, has completed the sale of the A&P, Waldbaum’s and Food Basics supermarket banners on behalf of The Great Atlantic & Pacific Tea Co.
Terms of the deal were not disclosed. The buyer of the properties also was not disclosed in the press release sent out by Hilco Streambank, the exclusive broker of the assets.
With the sale of these three brands, as well as certain miscellaneous brands and other intellectual property assets, A&P has now sold substantially all of its intellectual property assets.
A&P filed for bankruptcy in 2015. In connection with the liquidation of its assets, Hilco Streambank previously assisted A&P in the sale of its Food Emporium, Pathmark and Super Fresh supermarket banners, as well as its America’s Choice and Green Way private label brands.
With the sale of A&P, Waldbaum’s and Food Basics, along with private label brands including Woodson & James, Hartford Reserve and Great Atlantic Seafood Market, Hilco Streambank has assisted the company in the sale of 23 brand names during the course of its engagement.
“We are pleased to have assisted in the sale of these intellectual property assets. Such supermarket banners, including A&P and Waldbaum’s, have a long and rich history in the Northeast,” said Hilco Streambank SVP Richelle Kalnit. “We are excited to see how the new owners of these brands will continue the legacy.”
Hilco Streambank has completed numerous transactions, including sales in publicly reported Chapter 11 bankruptcy cases, private transactions and online sales. Hilco Streambank is part of Northbrook, Illinois-based Hilco Global, a worldwide financial services company that assists companies in maximizing the value of their assets.