Safeway has entered into an agreement to purchase five of Andronico’s Community Markets stores. This agreement comes after Renovo Capital, which acquired Andronico’s out of bankruptcy in 2011, approached Safeway about purchasing their stores.
With this, Renovo hopes to preserve union jobs as well as keep the stores operating in the same way their customers enjoy.
“Andronico’s Community Markets have developed a well-respected brand and loyal customer base, and we are committed to keeping the local heritage alive,” says Tom Schwilke, president of Safeway Northern California. “Our goal is to preserve everything great about Andronico’s while adding Safeway’s innovations and great Own Brands products including O Organics.”
“We’re proud that Safeway has chosen our stores and our teammates to join their dynamic company,” adds Andronico’s CEO Suzy Monford. “We’re synergistic retailers who share a commitment to best quality, local and artisanal foods, as well as in supporting union jobs within our communities.”
