American food and drug retailer Safeway has signed a definitive agreement with Roundy’s, a grocer in the Midwest, to divest 11 of its Dominick's stores in the Chicago metropolitan area.
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.; and Shorewood: 950 Brook Forest Ave.
The transaction is expected to close in the second half of December 2013.
Roundy's noted that there will be a transition period of approximately one to two months, during which, the company will take possession of Safeway stores and convert them to its growth banner, Mariano's.
This sale is part of Safeway's earlier announced plans to exit the Chicago market and focus its efforts in other operating areas where its business is stronger.
Safeway also announced the sale of four stores in the Greater Chicago area to New Albertsons, which operates Jewel-Osco grocery stores.
Safeway presently operates 1,406 stores in the US with annual sales of $37.5bn in 2012.
