PLEASANTON (CBS SF) – Andronico’s Community Markets has reached an agreement with Safeway to purchase their five stores.
A company statement posted Wednesday said Renovo Capital, which acquired Andronico’s out of bankruptcy in 2011, approached the Pleasanton-based grocery giant to buy their stores earlier this year.
“Andronico’s Community Markets have developed a well-respected brand and loyal customer base, and we are committed to keeping the local heritage alive,” Safeway Northern California president Tom Schwilke said.
“We’re proud that Safeway has chosen our stores and our teammates to join their dynamic company,” Andronico’s CEO Suzy Monford said.
The two companies said they are working together to ensure a smooth transition. Andronico’s union employees will continue to work their current assignments and have the same pay and benefits.
Monford told KPIX 5 the five Bay Area stores will be named Safeway Community Market. “These markets will provide a specialty niche for Safeway,” said Monford. “Safeway is committed to maintaining what is unique about Andronico’s while offering even better value.”
Monford said the transition from Andronico’s to Safeway started Wednesday morning and would be fully realized by mid-December.
Andronico’s has locations in Berkeley, Los Altos, San Anselmo and San Francisco.
News of the Andronico’s purchase comes a week after Safeway announced it was buying G&G Supermarkets, a family-run business which operates two stores in Santa Rosa and Petaluma.
Both will be renamed Safeway.