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.
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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.
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