Giant Food Stores has entered into an agreement with Supervalu Inc., a newly acquired subsidiary of United Natural Foods, to acquire five corporately owned Shop ‘n Save locations. Upon completion of the sale, Giant plans to convert the Shop ‘n Save stores into Martin’s Food Markets stores. The sale is currently expected to close during the first quarter of 2019, subject to customary closing conditions.
“This acquisition demonstrates our continued commitment to the long-term growth strategy we announced earlier this year,” said Nicholas Bertram, president of Giant Food Stores. “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.”
Additional details regarding the conversions will be announced at a later date. Current Shop ‘n Save employees at these stores will have the opportunity to interview with Martin’s.
This acquisition announcement follows a series of strategic investments that the company has recently made in its store fleet and family of brands within Pennsylvania, including the introduction of the new Giant Heirloom Market in Philadelphia, the acquisition of Darrenkamp’s Willow Valley Square location and a new e-commerce hub, both in Lancaster, plus new stores planned for the East Stroudsburg and Walnutport communities.
