Chain Store Guide Paints Picture of PA-Market Following Sale of Genuardi’s
According to a company press release, Safeway Inc. has reached a definitive agreement to sell 16 of its Genuardi’s stores in the greater Philadelphia area to Giant Food Stores LLC, a division of Ahold USA. 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. The transaction is subject to customary closing conditions, including regulatory approval.
In addition, Safeway plans to close three Genuardi’s stores and sell the remaining eight Genuardi’s stores, which it will continue to operate while it is working with potential buyers. The three Pennsylvania stores to be closed are: Exton, Norristown(1930 West Main St.) and Royersford.
According to Chain Store Guide, Giant Food’s high-performing operations in the Metro Philadelphia CBSA already have it as one of the top supermarket retailers in that $10+ billion grocery market. Locations include its Martin’s food banner along with Giant Food Stores. Based on the above information and assuming Safeway does indeed sell the remaining eight locations, below is an estimated picture of what the Philadelphia metro could look like in the near future. Note – figures are estimated by Chain Store Guide to reflect future occurrences.
PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD Metro CBSA*
*Source: Chain Store Guide’s 2011 Grocery Industry Market Share Report. Projected store counts and new market share are based on Chain Store Guide estimations.