<p><strong>PLEASANTON, CA</strong> - Safeway Inc. and GIANT Food Stores, LLC have announced that they have reached a definitive agreement for 16 of Safeway's Genuardi's stores in the greater Philadelphia, according to a press release. Giant Food Stores, LLC, a division of Ahold USA, will acquire Genuardi's stores in Greater Philadelphia for $106 million. Safeway will continue to operate these locations until the transaction closes, and hopes for smooth transition for all of the stores.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> In addition to the agreement with Giant Food, Safeway plans to close three Genuardi's stores and sell the eight remaining Genuardi's stores. Steve Neibergall, President of Safeway's Eastern Division, states, "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." He continues, "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."<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> In a press release from GIANT Food stores, Rick Herring, President of the company, states, "GIANT is always looking for convenient locations to better serve our customers." He continues, "We are very excited to have the opportunity to expand our presence in greater Philadelphia and serve new customers. We look forward to providing customers with the quality, selection, and savings that they have come to expect from GIANT." GIANT plans to convert the former Genuardi's stores into GIANT Food Stores and offer employment opportunities with GIANT for the Genuardi's employees at these locations. </p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>www.safeway.com<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">www.giantfoodstores.com</p><hr class="legacyRuler"><hr class="invisible minimal-padding">
