US: Safeway sells 11 Dominick's stores to Roundy's
Safeway continues Chicago retreat
Safeway Inc has reached an agreement to sell 11 of its Dominick's stores in Chicago to Roundy's Inc.
The deal, for US$36m in cash plus lease assumption, will see Roundy's take possession of the stores during a two-month transition period.
Safeway announced its decision to exit the Chicago market earlier this year. The group said it intends to focus its efforts in other operating areas where its business is "stronger".
In a statement released late yesterday (2 December), Safeway said it "continues to be actively engaged in a process to identify purchasers for its remaining stores" in Chicago.
Safeway previously announced the sale of four stores in the greater Chicago area to New Albertsons, Inc.
Safeway Announces Sale of 11 Dominick's Stores
PLEASANTON, Calif., Dec. 2, 2013 /PRNewswire/ -- 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 Chicagoarea to New Albertsons, Inc., which operates Jewel-Osco grocery stores.
Original source: Safeway Inc
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