John Catsimatidis
Billionaire supermarket mogul John Catsimatidis and Morgan Stanley are the two highest bidders for the Great Atlantic & Pacific Tea Company’s Food Emporium portfolio, according to Crain’s. The grocery chain’s 16 Manhattan locations are up for sale by the ailing A&P, which is unloading noncore assets in an attempt to turn a profit after seven quarters in the red. Catsimatidis, one of Forbes’ richest Americans and the owner of Gristedes, all but confirmed his involvement in acquisition negotiations, noting that “it’s no secret that we have interest” in the Food Emporium. [Crain’s]