the staff of the Ridgewood blog
Paulsboro NJ, the $100 million Deli is back in the spotlight again , Hometown International (HWIN) , the publicly traded company with a market capitalization of more than $100 million despite owning just one small New Jersey deli in Paulsboro has announced plans to merge with Makamer, a private bioplastics start-up firm.
According to CNBC , the money-losing Your Hometown Deli in Paulsboro, which is owned by Hometown International, will not be operated by the new company that will result from the merger with the Los Angeles-based Makamer. CNBC however confirmed on Friday that, “We’re still going to be open” after the merger is completed.
The announcement of the tie-up of Makamer and Hometown International comes nearly a year after hedge fund manager David Einhorn in a client letter noted the bizarre disparity between the deli’s extremely modest sales, which were $25,004 for all of 2021, and Hometown’s sky-high stock market valuation.“The pastrami must be amazing,” Einhorn quipped in the most-quoted line from that April 2021 letter .