Mergers & Acquisitions

Montvale, N.J. -- Great Atlantic & Pacific Tea Co. said late Tuesday it will sell six Pathmark stores for $89.8 million. The company said it has entered into an agreement with Winstanley Enterprises LLC, which will acquire six Pathmark stores in New York, New Jersey, Pennsylvania and Delaware.

CEO Sam Martin said the deal is part of the company's turnaround strategy. Last month, after announcing its second-quarter loss had doubled from a year earlier, the company said its turnaround plan, including cutting costs, would help improve business.

BARBERTON, Ohio  – Malco Products announced that it has added Bluette Laundry Bluing to its consumer division.

The Bluette brand was purchased from Osmegen Inc., a division of Homax Products Inc.

Bluette joins a variety of consumer products including: Zud™, Twinkle™ Polish, Mr. Coffee™ Coffeemaker Cleaner, NuSoft™ Fabric Softener and Linit™ Liquid Starch all owned and manufactured by Malco.
 

Chicago -- Exiting what was labeled the biggest real estate bankruptcy in U.S. history, General Growth Properties has emerged from Chapter 11 protection as two separate companies.

The country’s second-largest U.S. mall owner said Wednesday that it has spun off Howard Hughes Corp., an owner of master-planned communities and other properties.

The shares of the newly separate General Growth, as well as the shares of Howard Hughes, will begin trading Thursday on the New York Stock Exchange.

New York City -- A report circulated Wednesday said that BJ's Wholesale Club may be close to hiring an adviser to explore strategic alternatives.

According to the New York Post, which cited an unnamed source, one alternative could be a sale to a private equity firm.