Giant: Genuardi's Purchase Could Be Final In 'Coming Weeks'
After the FTC approves the transfer, the Wynnewood Genuardi's will be closed for one week for conversions—but the exact timing is not yet decided.
Giant’s takeover of 15 Genuardi’s stores, including the Wynnewood store, will likely happen “in the coming weeks,” according to Chris Brand, community relations manager at Giant Food Stores.
On Jan. 5, Giant announced the purchase of 16 Genuardi’s stores from Safeway, the supermarket's parent company. At that time, Giant expected the transaction could take up to six months, Brand said.
Now almost at the five-and-a-half month mark, Giant is waiting for final approval from the Federal Trade Commission. In order to obtain clearance from the FTC, Giant agreed to sell the Genuardi’s store in Newtown, Pa., Brand said, bringing the total acquisition down to 15 stores.
Patch reported earlier this week that Genuardi's corporate office had not yet received a timeline for the takeover from Giant. The reason, Brand said, is because Giant isn't completely sure of the timing either.
“We expect the FTC to grant regulatory clearance for Giant’s purchase of the other Genuardi’s stores in the coming weeks,” Brand said. “We have teams that are at the ready to begin work once we hear from the FTC.”
Once conditions for closure are met, Giant will begin work on the 15 Genuardi’s stores in three phases.
Brand wrote in an email:
A group of 5 stores will close for approximately one week, during which time our team of associates will be making conversions around the clock. Pharmacies will remain open during the conversion process, and we will work to ensure the least amount of disruption to customers as part of the process. The next week, a different group of stores will be closed and converted, and the week after that, the last group.
We will actively communicate with our customers once we have news about the timing for the conversions.
As of now, Giant is not announcing the specific stores to be worked on in each phase.
As far as employment for current Genuardi's associates goes, "there is a process in place for these Genuardi’s associates to apply for available positions, and we have encouraged all Genuardi’s associates in these stores to do so," Brand said.
- Still No Timeline for Giant's Genuardi's Takeover (June 11, 2012)
- Genuardi's Employees Say They're Being Kept in the Dark (January 11, 2012)
- GIANT Buys 16 Genuardi's Locations (January 5, 2012)
- Rumors Swirl About Potential Genuardi's Sale (November 1, 2011)
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