Safeway Inc. (Pleasanton, Calif.) has reached a definitive agreement to sell 16 of its Genuardi's stores in the greater Philadelphia area to Giant Food Stores, a division of Ahold USA (Quincy, Mass.). The retailer says it will continue to operate these stores until the transaction closes, pending regulatory approval.
The locations in greater Philadelphia to be sold to Giant include: Chalfont, Newtown, East Marlborough, North Wales, Flourtown, Roslyn, Huntingdon Valley, Spring House, Jamison, Springfield, King of Prussia, St. David's, Langhorne, West Chester, Maple Glen and Wynnewood.
In addition, Safeway plans to close three Genuardi's stores – in Exton, Norristown (1930 West Main St.) and Royersford – and sell the remaining eight Genuardi's stores.
“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,” says Steve Neibergall, president of Safeway's Eastern division.
Safeway Inc. operates 1681 stores in the U.S. and western Canada.