Catsimatidis in talks to buy rival NYC grocer Fairway Market

The supermarket has 15 locations

New York /
Oct.October 06, 2017 11:10 AM

Real estate and grocery store billionaire John Catsimatidis is looking to expand his empire.

The Gristedes supermarkets owner is engaged in “informal discussions” with GSO Capital Partners, the owner of rival grocer Fairway Market, according to the New York Post.

However, Catsimatidis tells the Post the a deal is not “imminent.”

“We put out feelers that we had interest before they went bankrupt and after,” he said. “I’ve been in the food business for 50 years and if opportunities come by — especially in the city — we will take a good look at it.”

Catsimatidis has explored buying the chain of 15 stores in the past. In May 2016, Catsimatidis made an offer after Fairway filed for Chapter 11 reorganization. GSO Capital, which is owned by the Blackstone Group, beat him out.

“We are proud of the positive changes management have implemented at Fairway and are committed to turning around and growing the business,” Paula Chirhart, a spokeswoman for Blackstone told the Post.

Last month, Catsimatidis revealed that he has plans to install a street car at his Coney Island project on Surf Avenue. [NYP] – Christopher Cameron


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