Acquisition of Business

9 Months Ended

Sep. 29, 2012

Acquisition of Business

Acquisition of Business

(4) Acquisition of Business
On June 11, 2012, Weis Markets, Inc. acquired three former Genuardi's stores located in Conshohocken, Doylestown and East Norristown, Pennsylvania from Safeway Inc. Weis Markets, Inc. acquired the store locations and operations of these three former Genuardi's stores in an effort to establish its retail presence in the Delaware Valley. The results of operations of the three former Genuardi's stores are included in the accompanying consolidated financial statements from the date of acquisition. The three former Genuardi's stores contributed $9.7 million to sales in the third quarter and $11.7 million year-to-date.

The cash purchase price paid to Safeway Inc. was $6.1 million. The Company recognized a gain of $414,000 on the bargain purchase. The purchased assets include inventories, equipment and intangible assets. Weis Markets, Inc. assumed all three lease obligations of the former Genuardi's stores.

The following table summarizes the fair values of the assets acquired at the date of acquisition.

(dollars in thousands)		June 11, 2012
Inventories	$	1,116
Equipment		5,294
Intangible assets		120
Total assets acquired	$	6,530