PITTSBURGH, April 5 /PRNewswire/ -- Building on a history of acquisitive and organic growth, Pittsburgh-based multi-format retailer Giant Eagle, Inc. announced today the execution of an asset purchase agreement with Tops Markets to purchase five former Penn Traffic stores. The five stores involved in the transaction are located in Brookville, DuBois, Johnstown, St. Marys and Titusville.
"Given our nearly 80-year history as a leading regional food retailer with strong western Pennsylvania roots, we were approached by Tops Markets more than a month ago regarding these locations," said Giant Eagle Special Counsel Dan Shapira. "Tops informed us that these stores were outside of their geographic footprint, and as such would ultimately be closed and the employees terminated. We believe there is an opportunity to refurbish these stores and bring to consumers of the area an overall improved shopping experience."
"We are thrilled to be able to not only preserve these grocery shopping options for area residents, but to deliver the type of high quality offerings that our customers have come to expect from us," Shapira added.
Purchased Store Locations
40 South White Street, Brookville (BiLo Foods)
100 North Main Street, DuBois (BiLo Foods)
1910 Minno Drive, Johnstown (BiLo Foods)
846 South Street/St. Marys Street, St. Marys (BiLo Foods)
110 South Martin Street, Titusville (Quality Market)
Transition Timeline and Pharmacy Record Transfer
Tops will begin immediately its planned store inventory liquidation sales in preparation for the eventual closure of the five locations. At the time of the stores' closings, the properties will be turned over to Giant Eagle. Beginning during the liquidation sales and continuing through the closure and transition period, the in-store pharmacies at the Brookville and DuBois locations will remain open, allowing customers to continue to order and pick up prescription medications.
Giant Eagle has agreed to acquire the pharmacy records for the former Penn Traffic pharmacies in the Brookville, DuBois and Johnstown locations, and plans to operate the existing pharmacies at Brookville and DuBois. The pharmacy files from the Johnstown location are being transferred seamlessly to the nearby Goucher Street Giant Eagle.
Johnstown, Brookville and DuBois pharmacy customers can look forward to Giant Eagle's commitment to excellence, outstanding customer service, and accuracy in fulfilling prescription medication needs. The company was recently recognized as a recipient of the Cheers Award by the Institute for Safe Medication Practices (ISMP). The Cheers Awards honor individuals, organizations, and companies that have set a superlative standard of excellence for others to follow in the prevention of medication errors and adverse drug events.
Store Operation and Employment Opportunities
Giant Eagle is evaluating all opportunities regarding these stores, including reaching out to its experienced independent ownership group to gauge interest in the operation of some of these locations.
The acquisition of these stores is anticipated to provide much needed employment opportunities in the area. All those interested in positions at the purchased locations are invited to apply at the stores. Additionally, affected employees are also welcome to apply at other regional Giant Eagle locations.
Further details about the transaction and Giant Eagle's evolving plans will be released as details become available.
SOURCE Giant Eagle