According to a release issued by GIANT Food Stores, the supermarket chain has entered into an agreement with Genuardi’s Family Markets, currrently owned by Safeway, to acquire sixteen Genuardi’s stores in the Greater Philadelphia area. Rumors of the proposed sale had been . Giant will reportedly pay $106 million for the stores.
None of the Norristown-area locations (where the Genuardi's chain was born in 1954) are part of the deal, but nearby Genuardi's stores in King of Prussia and St. David's will soon be owned by Giant.
The following stores are part of the sale:
- 310 S. Henderson Road, King of Prussia
- 550 E. Lancaster Avenue, St. Davids
- 2395 York Road, Jamison
- 2890 S. Eagle Road, Newtown
- 168 N. Flowers Mill Road, Langhorne
- 4275 County Line Road, Chalfont
- 1375 Boot Road, West Chester
- 830 E. Baltimore Pike, East Marlborough
- 950 Baltimore Pike, Springfield
- 50 E. Wynnewood Road, Wynnewood
- 1844 Bethlehem Pike, Flourtown
- 737 Huntingdon Pike, Huntingdon Valley
- 1121 Bethlehem Pike, Spring House
- 1925 Norristown Road Maple Glen
- 2350 Susquehanna Road Roslyn
- 467 Sumneytown Pike North Wales
“GIANT is always looking for convenient locations to better serve our customers,” said Rick Herring, president of GIANT Food Stores. “We are very excited to have the opportunity to expand our presence in greater Philadelphia and serve new customers. We look forward to providing customers with the quality, selection, and savings that they have come to expect from GIANT.”
So what does that mean for Genuardi's customers at those stores? Unlike when Safeway bought the family chain in 2001, after the sale, Giant plans to drop the Genuardi's branding and convert those stores to Giants. Giant has said it will make employment opportunities available to Genuardi's employees in those stores.
The sale is expected to close in the first half of 2012.