Stop & Shop and King Kullen announced Wednesday, June 10, that they have terminated their merger agreement signed in December 2018 and announced in January 2019.
“A joint decision was made not to proceed with the acquisition 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,” the companies said in an announcement.
In a separate release, Ahold Delhaize noted, “terms of the agreement could not be reached,” without providing further detail. The announced agreement included Stop & Shop’s acquisition of 32 King Kullen stores, five Wild by Nature stores, and the use of King Kullen’s Bethpage, New York headquarters.
Full Content: Grocery Drive
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