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Weis to Acquire 12-Store Giant Markets Chain
Weis Markets on Thursday said it had agreed to purchase the retail locations of Giant Food Markets, Binghamton, N.Y., which operates 12 grocery stores in Broome County, N.Y. A purchase price was not disclosed.
1 Min Read
JON SPRINGER
SUNBURY, Pa. — Weis Markets here on Thursday said it had agreed to purchase the retail locations of Giant Food Markets, Binghamton, N.Y., which operates 12 grocery stores in Broome County, N.Y. A purchase price was not disclosed.
Weis said it expects to complete the acquisition in August and would gradually begin transitioning stores to the Weis banner.
“This acquisition is an excellent strategic fit for our company. Giant Markets is the market leader in Broome County where they have excellent locations, modern stores and a strong market presence,” Jonathan Weis, vice chairman of Weis Markets, said in a statement.
Weis currently operates one store in New York state but has a strong presence in the nearby Scranton-Wilkes-Barre market in Pennsylvania.
Dennis Curtin, a spokesman for Weis, told SN that Weis officials had long admired Giant, and had let its officials know informally that it would be receptive to talking about an acquisition in the event it owners wanted to sell. “Sometime in the past year those talks got more serious,” Curtin said.
Giant was founded in 1933 and operates its own warehouse and distribution facility. Those assets are not a part of the acquisition by Weis.
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