Giant Food to acquire 5 Shop 'N Save stores
Giant Food Stores has entered into an agreement with Supervalu Inc., a newly acquired subsidiary of United Natural Foods, to purchase five corporately owned Shop ‘n Save locations.
Upon completion of the sale, Giant Food Stores will convert the acquired stores to the Martin's Food Markets banner.
The stores to be sold are located in Smithsburg, Md.; Greencastle, Pa.; Berryville, Va.; and Hedgesville and Martinsburg, W.Va.
“This acquisition demonstrates our continued commitment to the long-term growth strategy we announced earlier this year,” noted Nicholas Bertram, president of Carlisle, Pa.-based Giant Food Stores, a division of Ahold Delhaize USA. “Our Martin’s associates have proudly served many of these communities for years, and we look forward to expanding the Martin’s brand along the Interstate 81 Corridor and within the Eastern Panhandle of West Virginia.”
Further details regarding the conversions will be revealed at a later date. Current Shop ‘n Save associates at the affected stores will be able to interview for positions with Martin’s.
The transaction comes on the heels of various strategic investments that the company has recently made in its stores and banners in Pennsylvania, among them the pending rollout of the small-format Giant Heirloom Market in Philadelphia; the acquisition of Darrenkamp’s Willow Valley Square location and a new ecommerce hub, both in Lancaster; and new stores slated for East Stroudsburg and Walnutport.
The deal is expected to close during the first quarter of 2019, subject to customary closing conditions.
Celebrating its 95th anniversary this year, Giant Food Stores operates 171 stores in Pennsylvania, Maryland, Virginia and West Virginia under the Giant Food Stores and Martin’s Food Market banners, employing nearly 30,000 associates. The Giant family of brands also includes Peapod by Giant.