You are hereBurkle Sees Value In A&P
Burkle Sees Value In A&P
MONTVALE, N.J. — Ron Burkle, the supermarket magnate whose prior investments in A&P were not enough to keep the retailer from bankruptcy, is doubling down.
Burkle's Los Angeles-based investment group Yucaipa Cos. is teaming with Mount Kellett Capital Management and Goldman Sachs Asset Management on a $490 million deal to buy the beleaguered retailer out of bankruptcy and operate it as a private company beginning early next year. Under the plan, which could be approved by the court as early as this week, Burkle would appoint himself chairman and lead an all-new board of directors.