Giant Eagle to Sell Off GetGo Convenience Stores and Gas Stations

Breaking News

Giant Eagle, a grocery store chain with locations in Ohio, Pennsylvania, West Virginia, and Maryland, has announced that it will be selling off all of its GetGo gas station-convenience stores.

The sale, which is expected to close in the fall of 2024, includes all 207 GetGo locations, as well as the GetGo fuel brand and trademarks.

The buyer is a newly formed company called Giant Eagle Convenience Stores LLC, which is a joint venture between the private equity firm The Carlyle Group and the real estate investment trust Regency Centers.

Reasons for the Sale

Giant Eagle has not disclosed the specific reasons for the sale, but analysts say that it is likely due to a number of factors, including:

• The increasing competition in the convenience store market
• The rising costs of operating gas stations
• The desire to focus on its core grocery business

Impact of the Sale

The sale of GetGo is expected to have a significant impact on the convenience store market in the Midwest.

GetGo is one of the largest convenience store chains in the region, and its sale will leave a void that will likely be filled by other chains, such as 7-Eleven, Speedway, and Sheetz.

The sale is also likely to have a negative impact on Giant Eagle's employees, as the company has announced that it will be laying off approximately 1,000 workers as a result of the sale.

Conclusion

The sale of GetGo is a major development in the convenience store market. It is a sign of the increasing competition in the industry and the challenges that traditional gas station-convenience stores are facing.

It is also a reminder that even large, well-established companies are not immune to the forces of change.