Safeway has agreed to sell 16 of its Genuardi's Family Markets stores in the greater Philadelphia area to Giant Food Stores, for $106 million.
Safeway will continue to operate these stores until the transaction closes by midyear, after which they will be converted to Giant Food Stores. Employment will be available to current Genuardi's associates.
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The following Pennsylvania Genuardi's are covered in the transaction: Chalfont, East Marlborough, Flourtown, Huntingdon Valley, Jamison, King of Prussia, Langhorne, Maple Glen, Newtown, North Wales, Roslyn, Spring House, Springfield, St. David's, West Chester and Wynnewood.
Safeway plans to close an additional three Genuardi's stores, and sell the remaining eight Genuardi's locations, which it will continue to operate while working with potential buyers. The three Pennsylvania stores to be closed are Exton, Norristown and Royersford.
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