Seeking Alpha

Safeway sells 11 Dominick's stores in Chicago to Roundy's for $36M

  • Safeway (SWY) sells 11 Dominick's stores in the Chicago metro area in a cash and lease assumption deal to Roundy's (RNDY) for $36M. Close is expected this month.
  • Safeway had announced earlier in the year its decision to exit the Chicago market. The supermarket operator continues to actively shop its remaining stores.
  • Update: In conjunction, Randy has suspended its 5.7% dividend to invest the capital into the Mariano's brand. (8-K)
  • RNDY +5.7% AH
  • Safeway PR, Roundy's PR
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