Safeway Announces Sale of 11 Dominick's Stores; Terms Undisclosed
Safeway Inc. (NYSE: SWY) announced today it has reached a definitive agreement to sell 11 of its Dominick's stores in the Chicago metropolitan area in a cash and lease assumption transaction to Roundy's, Inc. Roundy's will take possession of the stores during a transition period that will take place over the next two months.
The transaction is subject to customary closing conditions. The eleven stores are:
Park Ridge: 1900 S. Cumberland Ave. Western Springs: No. 14 Garden Market St. Chicago: 3145 S. Ashland Ave. Chicago: 2021 W. Chicago Ave. Northfield: 1822 Willow Rd. Westchester: 3020 S. Wolf Rd. Buffalo Grove: 450 Half Day Rd. Chicago: 5201 N. Sheridan Rd. Gurnee: 6655 Grand Ave. Aurora: 3025 E. New York St. Shorewood: 950 Brook Forest Ave. Earlier this year, Safeway announced its decision to exit the Chicago market and focus its efforts in other operating areas where its business is stronger. The company continues to be actively engaged in a process to identify purchasers for its remaining stores in the Chicago market, and make announcements as and when pending deals are finalized. Safeway previously announced the sale of four stores in the greater Chicago area to New Albertsons, Inc., which operates Jewel-Osco grocery stores.
About Safeway: www.Safeway.com Safeway Inc. is a Fortune 100 company and one of the largest food and drug retailers in North America based on sales. The company operates 1,406 stores in the United States with annual sales of $37.5 billion in 2012.
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