The Federal Trade commission.
Retailer A&P will have to sell six New York stores following
its acquisition of regional supermarket chain Pathmark as a condition of
winning regulatory approval for the deal. The Federal Trade Commission
has asked A&P to sell five Waldbaum's supermarkets and one
Pathmark outlet by 10 January. "A&P and Pathmark are
supermarket competitors in the highly concentrated areas of Staten
Island and Shirley, Long Island, New York," said Jeffrey Schmidt,
director of the FTC's Bureau of Competition. "Absent the
relief provided by the Commission's consent order, consumers in
these areas likely would face higher prices and lower levels of service
when shopping for their weekly groceries." The FTC order also
prohibits A&P and Pathmark, for 10 years and without prior notice to
the FTC, from owning or leasing interests in any property that has
operated as a supermarket within the prior six months in either Staten
Island or Shirley.
COPYRIGHT 2007 Informa Economics,
Inc. Reproduced with permission of the copyright holder. Further reproduction or distribution is prohibited without permission.
Copyright 2007, Gale Group. All rights
reserved. Gale Group is a Thomson Corporation Company.
NOTE: All illustrations and photos have been removed from this article.
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