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GIANT Food Stores to Acquire Five Shop 'n Save Stores
Pennsylvania Ag Connection - 11/09/2018

GIANT Food Stores announced today that it has entered into an agreement with SUPERVALU INC., a newly acquired subsidiary of United Natural Foods (UNFI), to acquire five corporately-owned Shop 'n Save locations. Upon completion of the sale, GIANT plans to convert the Shop 'n Save stores into MARTIN'S Food Markets stores. The following stores are part of the sale:

- 22401 Jefferson Blvd., Smithsburg, Md.

- 500 North Antrim Way, Greencastle, Pa.

- 409 North McNeil Rd., Berryville, Va.

- 147 Roaring Lion Dr., Hedgesville, W.V.

- 1317 Old Courthouse Square, Martinsburg, W.V.

"This acquisition demonstrates our continued commitment to the long-term growth strategy we announced earlier this year," said Nicholas Bertram, president, GIANT Food Stores. "Our MARTIN'S associates have proudly served many of these communities for years, and we look forward to expanding the MARTIN'S brand along the Interstate 81 Corridor and within the Eastern Panhandle of West Virginia."

Additional details regarding the conversions will be announced at a later date. Current Shop 'n Save employees at these stores will have the opportunity to interview with MARTIN'S.

This acquisition announcement follows a series of strategic investments that the company has recently made in its store fleet and family of brands within Pennsylvania, including the introduction of the new GIANT Heirloom Market in Philadelphia, the acquisition of Darrenkamp's Willow Valley Square location and a new e-commerce hub, both in Lancaster, plus new stores planned for the East Stroudsburg and Walnutport communities.

The sale is currently expected to close during the first quarter of 2019, subject to customary closing conditions. The sale must also be notified to and receive approval of the Federal Trade Commission pursuant to the Decision and Order issued In the Matter of Koninklijke Ahold N.V. and Delhaize Group NV/SA, dated October 14, 2016.

Serving millions of customers each week at 171 locations in Pennsylvania, Maryland, Virginia and West Virginia under the GIANT Food Stores and MARTIN'S Food Markets banners, the company is celebrating its 95th anniversary this year and still calls Carlisle, Pa. its hometown.

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