TokyoTokyo Mon - Fri 10:00-18:00 +81 (368) 662-975
info@mountequitygroup.com

D’Agostino’s executive steps down in grocery chain shake up

Mount Equity Group Tokyo, Japan > News > Business > D’Agostino’s executive steps down in grocery chain shake up

It’s the end of an era for D’Agostino’s. 

Nicholas D’Agostino III — whose family founded their namesake grocery chain in 1932 — has quietly stepped down as president and chief operating officer of D’Agostino’s and its sister chain Gristedes, The Post has learned. 

Billionaire John Catsimatidis — who engineered the merger of the two iconic Big Apple chains in 2016 when D’Agostino’s was struggling to pay its bills, putting D’Agostino at the helm — disclosed the changes to employees a few weeks ago in a memo obtained by The Post. 

In an interview this week, Catsimatidis confirmed the shakeup, saying D’Agostino, 59, has been bumped to vice chairman and will be replaced by two executives. 

“We changed things up,” Catsimatidis told The Post. “Nick is less involved in the day-to-day operations,” instead overseeing real estate and special projects. 

The interior of a D’Agostino’s store in Manhattan.G.N. Miller/New York Post

Both businesses have shrunk dramatically over the years, with Gristedes down to 18 stores from 200 in its heyday and 11 D’Agostino’s stores, down from 26 at its peak in the New York metro area. 

D’Agostino took over the company from his father in the early 2000s and is the last