King Kullen To Be Acquired By Giunta's Meat Farms

LONG ISLAND, NY — King Kullen Grocery Co. is set for acquisition by Giunta's Meat Farms, officials said this week.

The family-owned Long Island supermarket companies will unite "to preserve nearly a century of grocery tradition while investing in the future," a release said.

Giunta’s Meat Farms, with headquarters in Oakdale, and King Kullen Grocery Co., Inc., with headquarters in Hauppauge, announced that they had entered into an agreement under which Giunta’s Meat Farms will acquire King Kullen Grocery Co., Inc., including its 24 King Kullen supermarkets and four Wild by Nature natural foods markets.

The acquisition is expected to close in September, subject to customary closing conditions, both said.

"The transaction brings together two family-owned Long Island supermarket companies with generations of experience serving and supporting local communities," the release said. "United by a shared commitment to quality, fresh foods, and customer service, the transaction builds on the values that guide both organizations. "

"King Kullen is more than a supermarket company," said Joseph Giunta, co-owner of Giunta’s Meat Farms. "It’s America’s first supermarket and a significant part of Long Island’s history. We’re honored to carry that legacy forward while delivering the strong everyday value that has long defined the Meat Farms experience."

Until the transaction is completed, both companies will continue to operate independently and conduct business as usual. Upon closing, all King Kullen and Wild by Nature associates are expected to be retained, officials said.

Tracey Cullen, president and COO of King Kullen Grocery Co., Inc., said choosing the right organization to guide the future of King Kullen was driven by mutual respect and a common commitment to Long Island.

"As we looked toward the future, it was important to us to identify a local company that understood what makes King Kullen so special," said Cullen. "We found that in family-owned Giunta’s Meat Farms. They appreciate our history and our people. We are confident they are the right steward of the King Kullen legacy, and we look forward to working together throughout the transition."

James A. Cullen, chairman of King Kullen Grocery Co., added: "For nearly a century, King Kullen has been part of the fabric of Long Island thanks to the loyalty of our customers and the dedication of our associates. We believe Giunta's Meat Farms is guided by the same principles that have defined our company since my grandfather founded King Kullen in 1930."

Solomon Partners is serving as financial advisor to King Kullen.

It's not the first time a merger was announced: Stop & Shop and King Kullen terminated a proposed merger agreement, the supermarket chains said in 2020, during the pandemic.

Stop & Shop had previously announced in late 2018 that it would acquire all King Kullen supermarkets across Long Island.

A joint decision was made not to proceed with the acquisition because of "significant, unforeseen changes in the marketplace" that emerged since the agreement was signed in December, 2018, largely driven by the COVID-19 pandemic, the release said.

Headquartered in Bethpage, King Kullen is recognized by the Smithsonian Institution as "America’s first supermarket." Founded in 1930 by Michael J. Cullen, King Kullen is a family-owned and unionized business.