CARLISLE, Pa. — Giant-Carlisle has agreed to transfer a former Genuardi’s store to McCaffery’s Supermarkets to satisfy federal antitrust concerns around its Genuardi’s acquisition.
The store, located in Newtown, Pa., is the only Genuardi’s location whose transfer was affected by review from the Federal Trade Commission, Jim McCaffery, executive vice president of McCaffery’s, told SN. The deal still awaits final approval from the FTC, MCaffery said, adding that he hoped it would be complete in “two to three weeks.”
An FTC spokesman declined to comment to SN, other than to say a review of Safeway’s proposed sales of Genuardi’s was ongoing.
Giant earlier this year announced an agreement to purchase 16 Genuardi’s stores from Safeway for $106 million as part of Safeway’s withdrawal from the Philadelphia market. Weis Markets, Sunbury, Pa., agreed to buy another three.
McCaffery told SN he had been in contact with Safeway regarding the Newtown location prior to the Giant deal, and that his company was contacted by Giant to work out an agreement for the store as a result of the FTC investigation. The store would be the fourth location for McCaffery’s, based in Langhorne, Pa.
McCaffery said his company intends to close the store for seven days to clean and restock it following the transfer, then undertake a remodeling tentatively scheduled to be complete before the holiday season. He said he envisions recasting the store to feature fresh presentation and prepared foods like McCaffery’s other three units.