87-year-old Bay Area grocery chain Andronico's announced today that they're being acquired by Safeway in a deal that will, at least, preserve the company's remaining store employees' jobs and some of the stores' character. As they said in a release, the parent company that acquired them in 2011 following bankruptcy, Renovo Capital, as reached a deal with Safeway to sell the remaining five Andronico's locations in Berkeley, Los Altos, San Anselmo, and San Francisco. The stores, the full name of which is Andronico's Community Markets, will begin carrying Safeway's O Organics brand soon, and will transition to the new moniker Safeway Community Market, as CBS 5 reports.
The Business Times notes that Andronico's revealed between $10 and $50 million in debt when they declared bankruptcy five years ago, and subsequently closed and sold off three of its stores, including two in Berkeley. At its height, the chain had 14 stores in the Bay Area which had been whittled down to eight by 2011.
Tom Schwilke, president of Safeway Northern California, said in the statement, "Andronico’s Community Markets have developed a well-respected brand and loyal customer base, and we are committed to keeping the local heritage alive."
And, it should be noted, Andronico's has had a long tradition of doing prepared Thanksgiving Day meals which will continue this November, at least, and you can get $20 off a turkey or ham meal if you order by November 15 and use the promo code THANKSGIVING20.