The Food Emporium
Hilco Streambank was retained by The Great Atlantic & Pacific Tea Company, Inc. (the “Company”) to market and sell its intellectual property and related assets, including The Food Emporium® store banner.
The Food Emporium® was established in 1979, with the goal of providing large format supermarkets that combined regular grocery items with fresh produce and higher-end specialty items to the more upscale / urban customer demographic of New York City.
The Company acquired the Food Emporium® banner in 1986. Food Emporium branded stores provided superb service and high-quality specialty items. The Food Emporium® established a strong customer base through an e-commerce website under its TheFoodEmporium.com domain, which also serviced the New York City metropolitan area.
Hilco Streambank assisted the Company in negotiating the terms of a stalking horse agreement with Key Food Stores. Hilco Streambank then developed a marketing program designed for the sale of the Food Emporium® banner and related intellectual property assets in order to market-test the stalking horse deal to higher and better offers. We reached out to our network of potential buyers with a teaser detailing the opportunity and populated a virtual data room containing confidential materials regarding the assets available for sale.
In December 2015, the Company closed the sale of The Food Emporium® to Key Food Stores for $1.75 million.