Kroger buys Albertsons in massive supermarket merger agreement

Two major U.S. supermarkets will combine forces after a unanimous all-cash merger agreement was reached between the boards of Kroger and Albertsons.

In a statement, Kroger Chairman and CEO Rodney McMullen said, "Albertsons Cos. brings a complementary footprint and operates in several parts of the country with very few or no Kroger stores. This merger advances our commitment to build a more equitable and sustainable food system by expanding our footprint into new geographies to serve more of America with fresh and affordable food and accelerates our position as a more compelling alternative to larger and non-union competitors.

The newly merged company said it "expects to invest $1 billion to continue raising associate wages and comprehensive benefits after close." "Kroger and Albertsons Cos. have strong track records of providing quality products at great value. The combined company's innovation capabilities, increased manufacturing footprint and expanded national reach will drive improved quality and efficiency allowing its Our Brands portfolio to accelerate growth and profitability while remaining affordable and accessible to customers."

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Kroger announces deal to merge with Albertsons to form a mega grocery chain | CNN BusinessKroger announced it's merging with Albertsons in a $24.6 billion deal, creating one of the largest grocery store chains in the United States with nearly 5,000 stores when combined. Inflation: 14 Consumers: 0 Well, this won't help food prices or the bare shelves (and poor quality) at Kroger. I don't suppose the FTC will step in to thwart this attempted monopoly? Kroger sucks. I feel so sorry for their workers.
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