Giant Buys 16 Genuardi's Locations

As expected and , Giant Food Stores has acquired 16 Genuardi's stores, including the one here in the Wynnewood Shopping Center.

Giant Food Stores of Carlisle has entered into an agreement with Genuardi’s Family Markets, a subsidiary of Safeway Inc., to acquire 16 Genuardi’s stores in the Greater Philadelphia area for $106 million, according to the release issued today by Giant.

The sale includes the as well as other Pennsylvania locations in Jamison, Newtown, Langhorne, Chalfont, West Chester, East Marlborough, St. Davids, Springfield, Flourtown, Huntingdon Valley, Spring House, King of Prussia, Maple Glen, Roslyn and North Wales.

Rick Herring, president of Giant, said he's “very excited to have the opportunity to expand our presence in greater Philadelphia.”

Upon completion of the sale, employment opportunities with Giant will be made available to Genuardi’s associates, the company claims. Union impacts were not discussed.

The sale is currently expected to close within the first half of 2012.

***
Headquartered in Carlisle, Pa., Giant Food Stores also has a presence in Maryland, Virginia and West Virginia totaling more than 180 stores and operating also under the name of Martin's, with more than 31,000 employees.

It was founded in 1923.

Patch will update this story as information becomes available.