--Natural-and-organic specialty grocer files for bankruptcy and plans to exit affluent markets across 10 states, creating strong opportunities for expanding chains.
MELVILLE, N.Y. and NEW YORK, Feb. 10, 2020 /PRNewswire/ -- A&G Real Estate Partners (AGREP) and Hilco Streambank today announced that they have been engaged by Earth Fare to market and sell all Earth Fare stores and leases, and its intellectual property, respectively. Earth Fare, the natural and organic grocer, announced liquidation sales at all of its stores on February 3, and filed for chapter 11 of the United States Bankruptcy Code in the District of Delawareon February 4, 2020.
The Sale of Earth Fare's Store Leases:
"Interested parties should contact AGREP immediately, as liquidation sales are expected to conclude no later than February 29, 2020," said Emilio Amendola, Co-President of AGREP. "The stores, most of which are about 25,000 square feet (range in size from 17,000 to 38,000 square feet), generally have long lease term available with options. We anticipate strong interest among well-capitalized grocers with forward-looking business models."
Joseph McKeska, AGREP Senior Managing Director and a 28-year veteran of the grocery retail sector, said, "Many of these stores are in great shape, with nice interiors and fixtures that are typical of the specialty organic category. The opportunity to acquire fully fixtured, very young, or recently renovated properties is not available very often and gives buyers a fantastic opportunity to enter a turnkey location and be up and running with very little down time."
The Sale of Earth Fare's Intellectual Property Assets:
Earth Fare's intellectual property assets include its trademarks, customer data, domain names, social media assets and recipes, all of which are for sale.
"The brand has a rich history in the health and wellness retail market, and is well known for holding food manufacturers to the highest standards," commented David Peress, executive vice president of Hilco Streambank. He added, "The Earth Fare brand aligns with the values of today's consumer. It offered locally sourced meats and produce in the early 1980s and has been at the forefront of offering its customers products without such ingredients as artificial sweeteners and high fructose corn syrup."
Parties interested in acquiring the Earth Fare intellectual property assets or learning more about the sale process should contact Hilco Streambank directly using the contact information provided below.
Executive Vice President
Senior Vice President
Earth Fare is being advised by FTI Consulting, a global advisory firm, as Financial Advisor and Chief Restructuring Officer.
AGREP is a team of seasoned commercial real estate professionals and subject matter experts that delivers clients the highest possible value for their real estate. Key areas of expertise include real estate dispositions, lease restructurings, valuations, acquisitions, and facilitation of growth opportunities. Utilizing its marketing knowledge, reputation and advanced technology, A&G has advised the nation's most prominent retailers and corporations in both healthy and distressed situations. Founded in 2012, A&G is headquartered in Melville, N.Y., with offices throughout the country. For more information, please visit www.agrep.com.
About Hilco Streambank
Hilco Streambank is a market leading advisory firm specializing in intellectual property disposition and valuation. Having completed numerous transactions including sales in publicly reported Chapter 11 bankruptcy cases, private transactions, and online sales through IPv4.Global, Hilco Streambank has established itself as the premier intermediary in the consumer brand, internet and telecom communities. Hilco Streambank is part of Northbrook, Illinois based Hilco Global, the world's leading authority on maximizing the value of business assets by delivering valuation, monetization and advisory solutions to an international marketplace. Hilco Global operates more than twenty specialized business units offering services that include asset valuation and appraisal, retail and industrial inventory acquisition and disposition, real estate and strategic capital equity investments.
SOURCE A&G Real Estate Partners and Hilco Streambank
Originally published on PRNewsWire.com