GIANT Food Stores Agrees to Acquire Sixteen Genuardi's Stores in Greater Philadelphia

CARLISLE, Pa., Jan. 5, 2012 /PRNewswire/ -- GIANT Food Stores of Carlisle, Pennsylvania has entered into an agreement with Genuardi's Family Markets, a subsidiary of Safeway Inc., to acquire sixteen Genuardi's stores in Greater Philadelphia for $106 million. The following stores are part of the sale:

"GIANT is always looking for convenient locations to better serve our customers," said Rick Herring, president, 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."

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

The sale is currently 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.

About GIANT Food Stores

Headquartered in Carlisle, Pennsylvania, GIANT Food Stores is a leading retail grocer in Pennsylvania, Maryland, Virginia and West Virginia with more than 180 stores, operating under the names of GIANT Food Stores and MARTIN'S Food Markets and employing over 31,000 associates. Founded in 1923, GIANT and MARTIN'S have a long-standing commitment to eradicate hunger and improve the quality of life for children in addition to working with hundreds of local organizations annually. GIANT Food Stores was awarded the 2010 Golden Grocer Award by the U.S. Department of Agriculture for its leadership in the fight against hunger. In addition, GIANT Food Stores is one of the top ten fund-raisers in the country for local Children's Miracle Network hospitals. GIANT and MARTIN'S are Ahold companies. For more information visit www.GiantFoodStores.com and www.MartinsFoods.com.

SOURCE GIANT Food Stores