Giant Food Stores acquires five Shop 'N Save stores
Cumberland County-based Giant Food Stores has acquired five Shop 'N Save stores from Supervalu Inc.
The stores are in four states — Maryland, Virginia, West Virginia and Pennsylvania. The Pennsylvania store is in Greencastle.
Terms of the deal, which was announced Tuesday, were not disclosed.
Giant said it plans to convert the stores to Martin's Food Markets, a sister brand of Giant. The company also said current employees will have the opportunity to interview with Martin's.
The sale is expected to close during the first quarter of 2019, subject to customary closing conditions. It also must be approved by the Federal Trade Commission.
This acquisition follows a series of investments announced by Giant this year to expand its store network. In April, the company announced a $70 million investment plan that included building new stores and fueling stations in Pennsylvania, as well as remodeling existing stores.
The retailer also recently added a former Darrenkamp's store in West Lampeter Township, Lancaster County.
Giant has more than 170 stores.