Courtesy of Benzinga.
Roundy’s (NYSE: RNDY) today announced the company has signed a definitive agreement
to acquire 11 Dominick’s stores from Safeway (NYSE: SWY) in a $36 million cash and lease assumption transaction. The stores
will be converted to the Mariano’s banner, Roundy’s growth banner, in
the Chicago metropolitan area.
“This acquisition is transformational in terms of Mariano’s expansion
plans in the Chicago metropolitan area, allowing us to open 11
additional stores in 2014 in prime locations with great market
demographics,” said Robert Mariano, chairman, president and chief
executive officer of Roundy’s. “These key locations will seamlessly
integrate into and complement our existing base of 13 Mariano’s
locations as
