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COPYRIGHT 2005 Home News Tribune
Byline: Cheryl Sarfaty
Mar. 25--CARTERET -- In an eye-popping turn of events, struggling grocery retailer Pathmark Stores Inc., whose financials have been so bleak that the company in December said it was considering selling, is being resuscitated by a multimillion-dollar deal.
Yucaipa Companies LLC, a Los Angeles-based investment firm whose founder and chairman is billionaire Ron Burkle, announced yesterday it had signed a deal to buy a 40 percent stake for $150 million, giving the grocery store chain a new lease on life.
The deal now goes to Yucaipa's shareholders, where...
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