Clemens to be sold to two firms

0 Comments | Philadelphia Inquirer, The, September, 2006 | by Harold Brubaker

Clemens Family Markets Inc., the largest local family-owned supermarket chain in the Philadelphia region, has agreed to be sold to competitor Giant Food Stores L.L.C. and a large grocery wholesaler from New England. The value of the deal announced yesterday by Giant, of Carlisle, Pa., was not disclosed.

Giant is a subsidiary of Dutch company Royal Ahold N.V. Giant said it planned to buy 13 Clemens Family Markets in Bucks, Chester and Montgomery Counties and convert them into Giant Food Stores outlets. The company is also buying the foodsource by Clemens location in Bryn Mawr, and it will continue to operate it under that banner, spokesman Denny Hopkins said. The 14 stores had net sales of about $190 million in 2005, according to Giant, which already has 28 stores in Bucks,...