Giunta’s Meat Farms has agreed to acquire King Kullen, bringing together two family-owned Long Island grocers in a deal expected to close in September.
Under the agreement announced July 30, Oakdale, New York-based Giunta’s will take over 24 King Kullen supermarkets and four Wild by Nature natural foods markets across Nassau and Suffolk counties. The deal is subject to customary closing conditions. King Kullen, headquartered in Hauppauge and founded in 1930, is recognized by the Smithsonian Institution as America’s first supermarket and is Long Island’s largest family-owned grocery chain. Financial terms were not disclosed.
Giunta’s Meat Farms is a third-generation family company whose roots trace to 1952, when the Giunta family entered the supermarket business in Queens. It operates 10 Long Island locations. Both companies will continue to operate independently until the transaction closes, and all King Kullen and Wild by Nature associates are expected to be retained.
“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.”
Tracey Cullen, president and COO at King Kullen, said choosing the right buyer came down to mutual respect and a shared commitment to Long Island. “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.”
James A. Cullen, chairman at King Kullen and grandson of founder Michael J. Cullen, said the company has been part of the fabric of Long Island for nearly a century. “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.
America’s first supermarket
Michael J. Cullen conceived King Kullen while managing Kroger stores in Illinois, writing a letter to a Kroger executive proposing large, mostly self-service stores set off the high-rent district with ample parking and priced on high volume and low margins. When the letter went unanswered, Cullen resigned and moved his family to Long Island, opening the first King Kullen in 1930. The Smithsonian recognizes it as America’s first supermarket for being the first to combine separate departments, self-service, discount pricing, chain marketing and volume dealing.
The chain grew to 17 stores by 1936. Cullen died suddenly that year, six years after opening his first store, and the company continued under his wife and family, expanding eastward on Long Island through the 1950s. It remains family controlled and operated.