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Kings Super Markets

 
Hoover's Profile: Kings Super Markets, Inc.
 
Contact Information
Kings Super Markets, Inc.
700 Lanidex Plaza
Parsippany, NJ 07054-2705
NJ Tel. 973-463-6300
Toll Free 800-325-4647
Fax 973-463-6512

Type: Private
On the web: http://www.kingswebsite.com

Kings Super Markets has severed all ties to the British monarchy. The regional supermarket chain operates about 25 upscale grocery stores in northern New Jersey and a single store in Garden City, New York. Formerly owned by UK clothing retailer Marks and Spencer, which first put Kings up for sale in 1999, the chain was finally sold -- after several unsuccessful attempts -- in 2006 to a pair of New York-based private equity firms (Angelo, Gordon & Co. and MTN Capital Partners) and Bruce Weitz, a former CEO of Duane Reade, for about $61 million. Kings Super Markets was founded in 1936.

Officers:
Chairman: James A. (Jim) Demme
President and CEO: Bruce Weitz
Senior Director, Store Operations: Rich Durante

Competitors:
A&P
Inserra Supermarkets
Stop & Shop

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Wikipedia: Kings Super Markets
 
Kings Super Markets, Inc.
Type Private
Founded Summit, New Jersey, 1936
Headquarters Parsippany, New Jersey, United States of America
Number of locations 26 stores (2007)
Area served New Jersey
Key people Bruce Weitz, Owner, President, CEO
Industry Retail
Products Grocery
Revenue $405.9m million USD (2005)
Website http://www.kingswebsite.com/

Kings Super Markets is a supermarket chain headquartered in Parsippany, New Jersey, with 25 upscale grocery stores in northern New Jersey and one in New York. Founded in 1936, Kings was bought by UK retailer Marks & Spencer in 1988 and later sold to a US investor group consisting of Angelo, Gordon & Co., MTN Capital Partners LLC, and Bruce Weitz, in 2006.

Kings operates today in a competitive market, operating in New Jersey alongside other chains such as Shoprite or Stop & Shop. Many features of today's mid-market stores have been offered at Kings for decades.[citation needed] The chain operates either in, or in close proximity to, affluent suburban towns, and its stores offer a mix of traditional and upmarket grocery items. Kings also offers "COOKINGSTUDIO" cooking classes at two of its locations.

In the 1980s, Kings was one of the last supermarket chains to offer traditional S&H Green Stamps.

Marks & Spencer bought the chain in 1988 but did little to expand it into other affluent markets. Marks & Spencer later made a number of attempts to sell the chain, putting its desire to invest in the chain in doubt. New York-based Gristedes made a bid for Kings, but the chain was ultimately sold in 2006 to a US investor group for $61.5 million USD.


 
 

 

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Wikipedia. This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Kings Super Markets" Read more