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CARLISLE, Pa. — Giant Food Stores LLC, a division of Ahold USA, has agreed to acquire 16 Genuardi’s locations in the greater Philadelphia area from Safeway Inc. for $106 million.
Giant Food Stores LLC, a division of Ahold USA, has agreed to acquire 16 Genuardi’s locations in the greater Philadelphia area from Safeway Inc. for $106 million.
The sale is expected to close within the first half of 2012, and those outlets will be converted to the Giant Food Stores banner.
Safeway intends to close three other Genuardi’s outlets in the market and sell the remaining eight units, which it will continue to operate while working with potential buyers.
"We have made the decision to exit the greater Philadelphia market, including four stores in New Jersey, and focus our resources in those operating areas where we have a stronger presence," said Steve Neibergall, president of Safeway’s Eastern Division. "We will be working with the purchasers to ease the transition for our store employees and making efforts to facilitate continued employment for as many of them as possible."
