American Legacy Brands (ALB), a newly formed private equity investment company, has purchased the intellectual property assets of former grocery chains A&P and Waldbaum’s.
“We own the whole basket,” Steven Shamula, president of business development at Brooklyn, N.Y.-based ALB, told Progressive Grocer in a phone interview, “Logos, URLS, from A to Z – you name it.”
ALB was created by private investors with the aim of purchasing brands with “a great history” and reviving them, and A&P and Waldbaum’s represents the company’s first opportunity to do so, according to Shamula.
What this means specifically, he explained, was that ALB was searching for manufacturers or “the right retail partners” to relaunch the brands as private label lines. Noting that the company’s goal was not to open stores or to enter into the manufacturing side of the business, Shamula said that ALB’s focus was on licensing the iconic brand names to either retailers or manufacturers.
Currently, he added, the company was “exploring our options in this arena.”