The Great Atlantic & Pacific Tea Co. (A&P) has put its flagship Eight O'Clock coffee brand up for sale, according to the New York Post.
First-round bids are due shortly, according to the report, with interest likely to come from companies such as Procter & Gamble, Kraft, and Sara Lee – all of which have their own coffee brands (Folgers, Maxwell House, Chock Full O' Nuts, respectively).
The coffee unit generates about $100 million in annual sales and close to $20 million in operating profits, and is expected to bring between $100 million and $200 million to the A&P coffers.
Eight O'Clock is a private-label store brand coffee that dates back to pre-Civil War days; A&P developed it into a national brand over the past several decades.
First-round bids are due shortly, according to the report, with interest likely to come from companies such as Procter & Gamble, Kraft, and Sara Lee – all of which have their own coffee brands (Folgers, Maxwell House, Chock Full O' Nuts, respectively).
The coffee unit generates about $100 million in annual sales and close to $20 million in operating profits, and is expected to bring between $100 million and $200 million to the A&P coffers.
Eight O'Clock is a private-label store brand coffee that dates back to pre-Civil War days; A&P developed it into a national brand over the past several decades.
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