Exhibit 99.1

                                GRAND UNION LOGO


CONTACTS:
Mark Gross, Senior VP and General Counsel                     Kimberly Kriger
C&S Wholesale Grocers, Inc.                                   Kekst and Company
(802) 257-6025                                                (212) 521-4862
mgross@cswg.com
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Jeffrey P. Freimark
President and CEO, Grand Union
(973) 890-6340
jfreimark@grandunionco.com

                GRAND UNION ANNOUNCES COMPLETION OF ASSET SALE TO
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                              C&S WHOLESALE GROCERS
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WAYNE, NJ, MARCH 4, 2001 - The Grand Union Company (OTC BB: GUCO) announced
today that it has completed the sale of substantially all of its assets and
business to GU Markets, LLC, an affiliate of C&S Wholesale Grocers, Inc., and
other third party purchasers.

                  Virtually all of the locations that will remain retail
supermarkets have either already re-opened for business or will do so after a
very short renovation period.

                  Included in the assets acquired by GU Markets are
approximately 170 of Grand Union's operating locations, the Company's
distribution center in Montgomery, New York, and certain other non-operating
locations. Of the 170 locations acquired, approximately 45 locations are
expected to be immediately transferred to third party purchasers, including six
to Pathmark, 19 to Shaws and 20 to Tops. The remaining locations being purchased
by GU Markets and other third party purchasers will continue to operate under
the Grand Union name for various transition periods, which are expected to last
up to 90 days. Following the transition period, it is anticipated that GU
Markets will operate approximately 30 retail food operations.

                  During the transition period, liquidation sales will be
conducted to sell the inventory at approximately 40 locations, which will either
close for renovations or will be sold by GU Markets to non-food retail
operators. It is anticipated that the transition period also will be utilized to
permit the orderly transfer of:

         o        5 locations to Hannaford;
         o        42 locations to Stop & Shop;
         o        approximately 30 locations to other retail food operators; and
         o        approximately 15 locations to operators of other types of
                  retail establishments.



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                  Grand Union will retain 16 locations and seek alternative
buyers prior to the effective date of the lease rejections. GU Markets will hold
liquidation sales at those locations.

                  Grand Union filed a voluntary chapter 11 petition in the U.S.
Bankruptcy Court in Newark, New Jersey on October 3, 2000, with the stated
intention to facilitate the planned sale of the Company and provide for
additional funding during the sale process.

                  Some of the matters discussed herein are "forward-looking
statements" within the meaning of the private Securities Litigation Reform Act
of 1995. Such forward-looking statements are subject to risks, uncertainties and
other factors that could cause actual results to differ materially from future
results expressed or implied by such forward-looking statements. For additional
information about the Company and its various risk factors, please see the
Company's most recent form 10-K for the fiscal year ended April 1, 2000, as
filed with the Securities and Exchange Commission on June 30, 2000, and form
10-Q for the fiscal quarter ended July 22, 2000, as filed with the Securities
and Exchange Commission on September 1, 2000.



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