Giant finalizes $106M Genuardi's acquisition
Cumberland County-based Giant Food Stores' today finalized the $106 million acquisition of 15 Philadelphia-area stores from Genuardi's Family Markets after the Federal Trade Commission approved the deal.
The company said the FTC approved the deal contingent upon the sale of the Genuardi’s location in Newton, Pa., to an unrelated third party. The company originally was to buy 16 locations.
Giant announced the deal Jan. 5, saying it would renovate the stores. Those renovations should begin soon, spokesman Chris Brand said. Giant offered employment to 1,700 former Genuardi’s associates and plans to hire about 900 additional part-time workers.