ACME ACQUIRES ANOTHER
A&P FRESH!
Location: 550 Myrtle Ave, Boonton, New Jersey
The news broke yesterday that Acme is purchasing the Boonton store. The store was scheduled to close for good today but it won't be going dark after all! You can jump to an article on tapinto.net by clicking here. Thanks to Dan Asnis for sending in the article!
Not surprised. I WAS surprised that this store wasn't on the first list. Boonton has some wealthy residents and few grocery stores. A Kings on the other side of town serves those with no food budget limitations but there is nothing for the average shopper. This store sits on the border of Montville- another wealthy town with no grocery stores at all, unless you count a ShopRite in the Lincoln Park section that's miles away. You'd have to try hard to screw this one up, as A&P likely did when they ran out of money.
ReplyDeleteI think we'll start seeing more singe acquisitions such as this. Many A&P locations will be sold for the price of a modest house in New Jersey so ones that weren't appealing at $5 mil are much more enticing at $400k. I'm sure all major grocers have a list of stores they'd take, and at what price they're willing to pay. As stores close and A&P gets desperate, deals are likely to be made.
Now, all Acme needs to do is buy the A&P in Pompton Lakes so they can return to the area as they did in New Providence.
The Kings store at Del's Village in Boonton was originally an Acme.
ReplyDeleteClose, but not quite.
DeleteThe Acme was originally part of the strip mall, taking up approximately half of the parking lot in front of the Kings building. I remember reading it was a Foodtown before becoming an Edwards for a short while- it was closed down when the one at the intersection of Routes 10 and 202 in Morris Plains opened (it is now a Stop & Shop). The Acme/Foodtown/Edwards was demolished and the new Kings building was constructed behind the strip mall that still stands today.
Not to mention it's visibility from 287 and also relatively easy access for those coming from another area (particularly with the mention of areas without stores around this).
ReplyDeleteby the time you see it on 287 you've passed the exit, this is a C- center, bad access, bad parking and poor visibility
DeleteLet me rephrase that:
DeleteI knew there was an A&P in Boonton without having been there simply because I saw it every time we went up or down 287. Whereas I didn't know the town had any other market (the Kings referred to above) until I was mentioned in the topic.
That was the visibility I meant - the fact that any number of people see it every time they pass by the area.
Here are my pictures of the store closed and liquidated https://flic.kr/s/aHskpDkM4y. No sign of Acme, renovations, or restocking yet. Probably lot of people to hire or re-hire before they can reopen including a Manager/Store Director.
ReplyDeleteThis store used to have a huge Eight O' Clock Coffee sign on the side facing I-287. It was removed when it was remodeled as a Fresh store. It's the only store I know of that had that sign.
DeleteNorth Brunswick has Eighth O'clock Coffee sign (coffee cup)on the back side of the store facing US 1. If you want it North Brunswick has a fixture auction sceduled for December 1st.
ReplyDeleteCup https://flic.kr/p/B1Lr64
Auction https://flic.kr/p/ALLDKz
My Dad worked for ACME for around 20 years in Air Conditioning and Refrigeration. ACME started contracting out this service and they let all their techs go around 1973 or so. All the techs lost their company pension (before laws existed making this illegal). It was a tough time for my Dad.
ReplyDeleteConsidering The store was down to a "Acting Manager" and a skeleton crew at the end Acme may take their time doing all a more extensive remodel while fully staffing the store and hiring a Store Director. Though many of the people they will hire will be from the A&P and Pathmark layoffs.
ReplyDeleteNo progress to this point. Will it become an Acme?
ReplyDeleteWent by there today. Still not open yet.
ReplyDelete