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Giant acquiring 16 Philadelphia-area stores

Giant Food Stores has entered into an agreement with Genuardi’s Family Markets, a subsidiary of Safeway Inc, to acquire 16 Genuardi’s stores in greater Philadelphia PA for $106 million. Stores at these locations are included in the sale:

•2395 York Road, Jamison PA
•2890 S Eagle Road, Newtown PA
•168 N Flowers Mill Road, Langhorne PA
•4275 County Line Road, Chalfont PA
•1375 Boot Road, West Chester PA
•830 E Baltimore Pike, East Marlborough PA
•550 E Lancaster Avenue, St Davids PA
•950 Baltimore Pike, Springfield PA
•50 E Wynnewood Road, Wynnewood PA
•1844 Bethlehem Pike, Flourtown PA
•737 Huntingdon Pike, Huntingdon Valley PA
•1121 Bethlehem Pike, Spring House PA
•310 S Henderson Road, King of Prussia PA
•1925 Norristown Road, Maple Glen PA
•2350 Susquehanna Road, Roslyn PA
•467 Sumneytown Pike, North Wales PA

Upon completion of the sale, Giant plans to convert the former Genuardi’s stores into Giant Food Stores. Employment opportunities will be made available to Genuardi’s associates in these stores. Additional details regarding the conversions will be announced later.

The sale is expected to close within the first half of 2012, subject to customary closing conditions, including expiration of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

Headquartered in Carlisle PA, Giant Food Stores is a leading retail grocer in Pennsylvania, Maryland, Virginia, and West Virginia with more than 180 stores. These operate under the names of Giant Food Stores and Martin’s Food Markets and employing more than 31,000 associates.

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