Federal Trade Commission Approves Giant Acquisition of Fifteen Genuardi’s Stores

The Federal Trade Commission has approved the proposed acquisition of fifteen supermarkets by GIANT Food Stores from Genuardi’s Family Markets, a subsidiary of Safeway Inc. in the greater Philadelphia area. This follows the purchase agreement announced by GIANT Food Stores in its press release issued on January 5, 2012. Under the terms of a consent order approved by the Federal Trade Commission, the Genuardi’s located in Newtown, Pennsylvania must be sold to an unrelated third party. This store will be purchased by Newtown Market, LLC and will be operated as a McCaffrey’s supermarket. GIANT has offered employment to 1,700 former Genuardi’s store associates -- nearly all who applied for employment with GIANT at the stores GIANT is purchasing. GIANT also announced it will hire approximately 900 additional part-time associates to support its new stores. With the addition of these jobs, GIANT Food Stores, the third-largest private sector employer in Pennsylvania, will increase its Pennsylvania workforce by ten percent. Candidates interested in a job at GIANT Food Stores are encouraged to apply online at www.jobswithgiant.com. “We are excited to welcome the former Genuardi’s associates to the GIANT family. We can’t wait to introduce our unique combination of quality, selection and savings to more neighborhoods in greater Philadelphia,” said Rick Herring, president. “Customers can expect to find the same friendly faces when they shop at GIANT.” GIANT is working with Safeway to begin the store transition process. The dates for each store conversion will be announced shortly.