Hilco Streambank has been retained by The Great Atlantic & Pacific Tea Company, Inc. (“A&P”) to market and sell its intellectual property and related assets (the “Assets”). A&P is currently operating as a Debtor in Possession under Chapter 11 in the United States Bankruptcy Court for the Southern District of New York (the “Bankruptcy Court”). Hilco Streambank is seeking interest from potential buyers of the intellectual property assets of Best Cellars®.
The Best Cellars brand was launched in New York City in 1996 as a new concept in selling wines and liquor with affordable bottles assorted and displayed based on proprietary categories reflecting taste and texture rather than region, varietal or price. A&P acquired the brand in 2007, and operated ten Best Cellars wine shops in Connecticut, New York and New Jersey.
Consumers associate the Best Cellars brand with the place to buy affordable wines that exceed their expectations. In 2009 Best Cellars won Wine Enthusiast’s Wine Star Retailer of the Year Award in recognition of its success in demystifying wine for a broad range of consumers, its obsession with finding great values, its dedication to offering broad selection, and its educational initiatives.
Revenue generated under the Best Cellars banner was approximately $21MM in FY2014. YTD Sales for 2015 exceed $12MM.
Trademarks & Copyrights:
In addition to the Best Cellars® trademark and logo and the tagline GREAT WINES FOR EVERYDAY®, Best Cellars trademarked its proprietary labeling system with wines grouped around eight taste categories, several of which are trademarked, including: Fresh®, Soft® or Luscious® for whites; Juicy®, Smooth® or Big® for reds; Fizzy® for sparkling, and Sweet for dessert wines.
A complete list of the Best Cellars related trademarks is set forth below: