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Safeway to acquire Andronico's

Safeway to acquire Andronico's

Safeway and Andronico’s Community Markets have entered into an agreement for Safeway to purchase five Andronico's stores.

The agreement comes after Renovo Capital, which acquired Andronico’s out of bankruptcy in 2011, approached Safeway earlier this year about purchasing their stores, with the goal of preserving union jobs and keeping the stores operating in the same way their customers have come to enjoy.

“Andronico’s Community Markets have developed a well-respected brand and loyal customer base, and we are committed to keeping the local heritage alive. Our goal is to preserve everything great about Andronico’s while adding Safeway’s innovations and great Own Brands products including O Organics”, said Tom Schwilke, president of Safeway Northern California, in a statement.

Andronico’s CEO Suzy Monford said of the deal, “We’re proud that Safeway has chosen our stores and our teammates to join their dynamic company. We’re synergistic retailers who share a commitment to best quality, local and artisanal foods, as well as in supporting union jobs within our communities.”

It will be business as usual at Andronico's until about mid-December, a spokesperson told SN.

The news comes on the heels of Safeway's purchase of G&G Supermarkets, according to reports. Safeway has agreed to hire all 250 G&G employees from the company’s two stores located in Santa Rosa and Petaluma, Calif.

G&G anticipates that its stores will transition to the Safeway banner following the transaction close likely next month.

TAGS: News
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