Safeway Announces Sale of 16 Genuardi's Stores

Safeway Inc. (NYSE: SWY) announced today it has reached a definitive agreement to sell 16 of its Genuardi's stores in the greater Philadelphia area to Giant Food Stores, LLC, a division of Ahold USA. Safeway will continue to operate these stores until the transaction closes, and the company is working through an orderly transition for all of these stores.

In addition, Safeway plans to close three Genuardi's stores and sell the remaining eight Genuardi's stores, which it will continue to operate while it is working with potential buyers.