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


Related Articles

arrow_forward_ios
Mayor of New York City Eric Adams (Photo Illustration by The Real Deal with Getty Images)
NYC turns back to hotels to grow homeless shelters
NYC turns back to hotels to grow homeless shelters
Leonard Stern with Wyndham Garden Hotel Newark Airport (Getty, Hotels Combined)
Hartz buys Newark Airport hotel for $34M, plans demolition
Hartz buys Newark Airport hotel for $34M, plans demolition
Brookfield Property Partners CEO Brian Kingston and 660 Fifth Avenue (Brookfield Properties, Getty Images)
Major asset manager moves to 660 Fifth Avenue
Major asset manager moves to 660 Fifth Avenue
Cushman's Gary Gabriel and Adam Spies with one of the Long Island Industrial Assets (Cushman, Sherwood Equities, Getty Images)
Silverman grabs Sherwood industrial portfolio for $76M
Silverman grabs Sherwood industrial portfolio for $76M
50 Pennsylvania Avenue (LinkedIn, Pennrose)
Supermarket nabs 20K sf at Pennrose project in Brooklyn
Supermarket nabs 20K sf at Pennrose project in Brooklyn
Billionaire entrepreneur Mark Cuban (Photo Illustration by Steven Dilakian for The Real Deal with Getty Images)
Mark Cuban: Metaverse real estate is the “dumbest sh*t ever”
Mark Cuban: Metaverse real estate is the “dumbest sh*t ever”
From left: Century Development's Group’s George Xu and City/Rybak Development’s Sergey Rybak with 78-29 Austin St./11-36 45 Road
Rybak, Century file to build Queens multifamily projects
Rybak, Century file to build Queens multifamily projects
212 Fifth Avenue, Thor's Joseph Sitt and Madison Equities CEO Robert Gladstone (Google Maps, Thor, Studio Scrivo)
Thor sues insurer over Bob Gladstone’s alleged theft from 212 Fifth
Thor sues insurer over Bob Gladstone’s alleged theft from 212 Fifth
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...