Stop & Shop Finalizes Acquisition of Five Norkus Foodtown Supermarkets

FAIRFIELD, Conn., May 18, 2011 /PRNewswire/ -- The Stop & Shop Supermarket Company LLC has finalized its acquisition of five New Jersey Shore-area Foodtown supermarkets previously owned by Norkus Enterprises Inc. The transaction involves stores in Freehold Township, Manalapan, Neptune City, Point Pleasant Beach and Long Branch. Stop &Shop currently operates 10 stores in Monmouth and Ocean counties.

"Stop & Shop is always looking for opportunities and convenient locations to better serve our customers," said Ron Onorato, Division President of Stop & Shop's NY Metro Division. "We are very excited to have the opportunity to expand our presence in Monmouth and Ocean Counties. We look forward to providing our customers in these areas the superior value and quality they have come to expect from Stop & Shop."

Stop & Shop will immediately begin a conversion process for all five stores. Norkus closed its business at the Point Pleasant Beach, Neptune City and Long Branch stores on Monday, May 16th and the Freehold Township and Manalapan stores will close today at 3 pm. All stores will re-open officially under the Stop & Shop banner on Friday, May 27th at 7 am. The pharmacy at the Neptune City location will remain open during the conversion process for customer convenience. "It has taken a tremendous behind-the-scenes effort to ensure a smooth transition and a great partnership with the Norkus family members and their team to make this happen. Within 10 days we will refresh the stores to provide shoppers with a clean, up-to-date look and a convenient shopping experience," said Bob Yager, Senior Vice President of Operations for Stop & Shop's NY Metro Division.

"During phase one of the conversion, we will be cleaning, updating technology and re-merchandising the stores. Shortly after the store openings, we will begin remodeling the Freehold Township and Manalapan stores in the summer and remodel the three Jersey shore stores in the fall for phase two," said Yager.

"We are confident that our customers will be excited to see what we have done to offer them more choice and greater value. While all store aisles will be updated with new signage, we will be bringing a greater assortment of products and savings to customers throughout the store," said John Stobierski, Vice President of Sales for Stop & Shop's NY Metro Division.

Stop & Shop will provide customers with the same friendly faces and high level of customer service they have come to expect while shopping. Therefore, many current Norkus Foodtown associates have been offered positions at the new Stop & Shop stores or at other stores within the Stop & Shop chain. "For 76 years and three generations, it's been our honor and pleasure to serve the local communities. We wish Stop & Shop continued success as our family pursues other opportunities," said Gerry Norkus.

In recognition of the store openings, Stop & Shop will make a $10,000 donation to the Food Bank of Monmouth and Ocean Counties to fight hunger in the community. "The fight against hunger is a cause in which we can and must make a difference and we look forward to continuing a strong relationship with the Food Bank of Monmouth and Ocean Counties," said Arlene Putterman, Manager of Public and Community Relations.

About Stop & Shop

The Stop & Shop Supermarket Company LLC employs nearly 62,000 associates and operates more than 390 stores throughout Massachusetts, Connecticut, Rhode Island, New Hampshire, New York, and New Jersey. The company helps support local communities fight hunger, combat childhood cancer, and promotes general health and wellness – with an emphasis on children's educational and support programs. In its commitment to be a sustainable company, Stop & Shop is a member of the U.S. Green Building Council and EPA's Smart Way program; has been awarded LEED (EB) certifications for 50 of its existing stores; and has been recognized by the EPA for the superior energy management of its stores. Stop & Shop is an Ahold company. To learn more about Stop & Shop, visit www.stopandshop.com.

SOURCE Stop & Shop

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