Monday, February 13, 2012

Weis Markets to buy three Genuardi’s stores

"Weis Markets Inc. on Monday said it was buying three Genuardi's supermarkets from Safeway Inc. - locations on Ridge Pike in Conshohocken, Old Dublin Pike in Doylestown, and West Germantown Pike in Norristown.

No sale price was disclosed.

Weis said the suburban Philadelphia stores would operate under the Genuardi's name until the deal was finalized.

The three stores being acquired by Weis are among eight supermarkets that Safeway, Genuardi's parent company, said it would try to sell.

In January, Safeway announced an agreement to sell 16 of its 27 Genuardi's supermarkters to Giant Food Stores for $106 million.

"We're extremely pleased to be adding these stores to our store base," Weis Markets' president and chief executive David J. Hepfinger said in a news release. "We look forward to serving these communities as the lead local merchant as we have in 33 counties throughout central, eastern and northeastern Pennsylvania. We will also be reaching out to the associates of these stores to discuss employment with our company."

Weis Markets was founded 100 years ago and today operates 161 stores in Pennsylvania, Maryland, New York, New Jersey, and West Virginia."

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