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Weis Markets, Inc. will add a dozen stores to its present 154-store base following its acquisition of Binghamton N.Y.-based Giant Markets (no relation to Ahold’s Mid-Atlantic similarly named supermarket subsidiaries). The transaction is expected to close on Aug. 21.
Sunbury, Pa.-based Weis Markets will purchase Giant Markets’ Broome County, N.Y., stores, which are in Binghamton, Vestal, Endicott, Endwell and Johnson City. The move expands Weis Markets’ geographic footprint into a new area in New York state’s Southern Tier -- a geographical term that refers to Empire State counties west of the Catskill Mountains along the northern border of Pennsylvania.
“This acquisition is an excellent strategic fit for our company,” said Weis Markets’ vice chairman Jonathan Weis. “Giant Markets is the market leader in Broome County, where they have excellent locations, modern stores and a strong market presence.”
Having generated $2.4 billion in sales last year, Weis Markets’ stores are located in Pennsylvania, Maryland, New Jersey, New York and West Virginia.
A Weis Markets spokesman was quoted in a local press report as saying that the deal will commence in “a careful and deliberate process” and that no dramatic changes were expected to be made, at least for starters.