Buyer Prevails in Grocery Store Sale, ‘Wins’ Complicated Retail Workout
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Buyer Prevails in Grocery Store Sale, ‘Wins’ Complicated Retail Workout
By Chris Esposito, Managing Director & Anthony Masci, Vice President, CIT
A few years ago, two large U.S. grocery store chains merged. Parts of the combined chain were acquired by a much smaller regional grocery chain, which was declared the “winner” in the sale of locations that the combined company needed to divest to comply with a Federal Trade Commission order and...
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Chris Esposito is managing director, CIT Corporate Finance, and serves as head of underwriting and portfolio management for CIT’s Commercial & Industrial, Retail – Restaurant, and General ABL groups. He has more than 30 years of commercial lending experience, with close to 15 of them specializing in retail finance. Esposito was part of three ABL start-ups before joining CIT in 2002. He has expertise in ABL and cash flow financing, turnaround financing, and collateral lending. Esposito holds a bachelor’s degree in finance from St. John’s University.
Anthony Masci is a vice president in CIT’s Commercial & Industrial division and is a team leader for underwriting and portfolio management on the Retail & Restaurant team. After beginning his career at Bank of New York, he joined CIT in 2007 in a corporate role, was formally credit trained, and transitioned to his current team, where he specializes in ABL and cash flow financing. Masci holds a bachelor’s degree from Boston University and an MBA from the New York University Stern School of Business.
