News Summary

  • According to a Thursday announcement, Giunta's Meat Farms will acquire King Kullen, merging two Long Island, New York supermarket chains. Terms of the deal were not disclosed.
  • The transaction is expected to close in September, subject to customary closing conditions. Giunta's Meat Farms will acquire King Kullen's 24 namesake stores and 4 Wild by Nature natural food markets.
  • Until the deal closes, the two companies will continue to operate independently and "conduct business as usual," the announcement said.

In-Depth Analysis

In announcing the deal, the two family-owned Long Island supermarkets emphasized that their shared values and long histories in the local community will help them thrive after the merger.

"For nearly a century, King Kullen has been part of Long Island thanks to the loyalty of our customers and the dedication of our employees," King Kullen Chairman James A. Cullen said in a statement. "We believe Giunta's Meat Farms follows the same principles that have defined our company since my grandfather founded King Kullen in 1930."

The two companies said they expect to continue employing all King Kullen and Wild by Nature employees after the deal closes.

Giunta's Meat Farms, headquartered in Oakdale, New York, began its supermarket operations in 1952 and currently operates 10 stores on Long Island.