Giant To Purchase 16 Genaurdi's Locations

Safeway Inc. announced today it has reached an agreement to sell 16 of its Genuardi's stores in the greater Philadelphia-area to Giant Food Stores. Safeway will continue to operate these stores until the transaction closes, and the company is working through an orderly transition for all of these stores.

According to a Safeway press release, the stores that will be sold to Giant include locations in Langhorne, Newtown and Huntington Valley. Visit Safeway's website for the full list of stores that will be sold to Giant.

In addition, Safeway is planning on closing Genaurdi's stores in Norristown, Exton and Royersford and selling the remaining eight Genuardi's stores, which it will continue to operate while it is working with potential buyer.

"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," Steve Neibergall, President of Safeway's Eastern Division, said in the press release.

"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."

According to PhillyBurbs, this is not the first time Giant has purchased Genaurdi's stores. In November 2010, Giant purchased and converted Genaurdi's stores in and Warrington.