Report: A&P plans to sell company

New York – The Great Atlantic and Pacific Tea Co. (A&P), which exited bankruptcy last year, is reportedly looking to sell itself. A report in the Wall Street Journal indicates that an internally distributed company memo from A&P chairman Gregory Mays to store managers states a sale of A&P is one of several options for funding growth, along with raising capital and refinancing.

However, the report quotes an anonymous source as saying a sale is the most likely option.

The report lists buyout firm Cerberus Capital, as well as grocery conglomerates Kroger and Ahold, as possible bidders in the event of a sale. A&P reportedly may be valued at $1 billion or more. The company has not publicly responded to the report.