Stop & Shop’s long-pending acquisition of King Kullen is no more. The announcement was made on June 10.
The two chains, along with Stop & Shop parent Ahold Delhaize USA, said they have mutually decided to terminate the deal because of “significant, unforeseen changes in the marketplace that have emerged since the agreement was signed in December 2018, largely driven by the COVID-19 pandemic.”
“Both companies have put forth an incredible amount of effort to work through unanticipated challenges that have arisen, and we regret that we’re not able to move forward,” Stop & Shop President Gordon Reid said in a statement.
“King Kullen has a strong legacy on the island, and we wish them continued success. Stop & Shop remains committed to the Long Island community, to serving our customers in the market well, and to investing in our associates and our stores in Nassau and Suffolk counties,” he said.
At the time of the acquisition deal, there were 32 King Kullen supermarkets, but three underperforming locations were closed last year including Mount Sinai on June 20 and Ronkonkoma on Aug. 22. The remaining supermarkets include St. James, Huntington, Wading River, Middle Island and Manorville. The company also has five Wild by Nature stores on Long Island including Setauket and Huntington.
“We look forward to continuing to focus on what we do best: serving our great customers across Long Island and supporting our hard-working store associates,” said Brian Cullen, co-president of King Kullen. “We are enthusiastic about the future and well-positioned to serve Nassau and Suffolk counties for many years to come. In short, we are here for the long term.”