Stop & Shop and King Kullen jointly announced last Wednesday that a proposed merger agreement has been terminated.
“A joint decision was made not to proceed with the acquisition because of significant, unforeseen changes in the marketplace that have emerged since the agreement was signed in December 2018, largely driven by the COVID-19 pandemic,” the companies said in a press release.
Under the proposed plan, Stop & Shop would have acquired King Kullen stores.
Locally, there are King Kullen supermarkets in Wading River and Cutchogue, while Stop & Shop has a store in Riverhead. Both have stores in nearby Hampton Bays, which also has a Wild by Nature store, which is owned by King Kullen.
Brian Cullen, co-president of King Kullen, said in a press release that his company is “enthusiastic about the future and well-positioned to serve Nassau and Suffolk counties for many years to come.”
“In short, we are here for the long term,” he said.