Feds OK Giant Food Stores acquisition
Cumberland County-based Giant Food Stores has completed its purchase of five Shop 'N Save stores from Supervalu Inc., with plans to temporarily close and remodel the stores next month.
Giant said Monday that it received approval from the Federal Trade Commission to buy the stores from Supervalu, which was recently acquired by United Natural Foods.
One of the stores is in Greencastle, Franklin County, while the other four are in Maryland, Virginia and West Virginia.
Terms of the deal were not disclosed.
Giant said it plans to close the stores on March 27 to convert them to Martin's Food Markets, a sister brand of Giant. The stores will be remodeled and reopen on April 5.
Giant declined to say how much it is investing in the store renovations. Spokeswoman Ashley Flower said Giant is "committed to a sizable investment in the five stores, which will include technology, fixture, décor and other necessary changes."
Last year, Giant announced a $70 million investment plan that included building new stores and fueling stations in Pennsylvania, as well as remodeling existing stores.
Earlier this month, Giant opened its first Giant Direct, Powered by Peapod e-commerce hub, offering grocery delivery and pickup from its Lancaster city storefront. Giant also has opened its first Giant Heirloom Market in Philadelphia and it has new stores opening this year in Monroe and Northampton counties.
The supermarket chain, part of global grocery giant Ahold Delhaize, has more than 170 stores overall.