"Stop & Shop is pleased to have the opportunity to extend its relationship with People's United Bank into New York state," said Don Sussman, Stop & Shop's New York Metro Division President. "Jointly, People's United, one of our first in-store partners, and Stop & Shop have identified the synergies of convenience and volume that exist for our customers who may shop and bank in the same trip. We are confident that the seamless transition will not disrupt our customers' shopping experience."
People's United was advised in this transaction by Jefferies & Company, Inc. as financial advisor and Simpson Thacher & Bartlett LLP as legal counsel. Citizens was advised by Keefe, Bruyette & Woods, Inc.
About People's United Financial, Inc. People's United Bank is a subsidiary of People's United Financial, Inc., a diversified financial services company with $28 billion in assets. People's United Bank, founded in 1842, is the largest independent bank headquartered in New England and provides commercial and retail banking, as well as wealth management services through a network of 369 branches in Connecticut, Massachusetts, Vermont, New York, New Hampshire and Maine. Through its subsidiaries, People's United Financial provides equipment financing, brokerage and insurance services.
SOURCE People's United Financial, Inc.