Kroger announced that it plans to buy Albertsons in a nearly $25 billion deal that could change the US retail industry and impact how millions of customers buy their groceries.Two of the nation's largest grocers have agreed to merge in a deal they say would help them better compete with Walmart, Amazon and other major companies that have stepped into the grocery business.
The deal will likely get heavy scrutiny from U.S. antitrust regulators, especially at a time of high food price inflation. If approved, the deal is expected to close in early 2024. Value chains like Aldi and Dollar General - which have a combined 4% market share - have also been squeezing traditional grocers like Kroger and Albertsons, particularly as red-hot inflation pushes people to cut costs.
Kroger also said the combined stores would provide greater access to fresh food. Together, the stores operate in 48 states and the District of Columbia. It was no secret that Albertsons was thinking about selling the company. The chain announced in February that its board was reviewing options to enhance shareholder value, including developing new businesses or a sale.
I can say this, all the Albertsons stores they bought in houston have a huge plumbing problem in the butcher shop deli area, only shop at HEB now, nasty stores, sorry.
I’d shop at Kralbertson’s.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Kroger, rival Albertsons in talks for massive grocery merger - Dallas Business JournalKroger Co. is in talks with one of its biggest rivals about a merger that would combine the two largest U.S. operators of traditional supermarkets, according to multiple media reports.
Source: DallasBizNews - 🏆 525. / 51 Read more »
Owners of Fred Meyer and Safeway grocery chains propose massive $24.6 billion mergerKroger Co. has agreed to buy Albertsons Cos. in a deal that is sure to face tough antitrust scrutiny by the Biden administration. 'sure to face tough antitrust scrutiny by the Biden administration.' I’m pretty sure the Shadowrun trilogy is still on XboxGamePass. ;) Kroger is trash.
Source: adndotcom - 🏆 293. / 63 Read more »
Grocery chains Kroger and Albertsons announce mergerTwo major grocery chains, Kroger and Albertsons, announced on Friday a merger of the two companies. In a statement, Kroger said the mega-chain would hold nearly 5,000 locations in 48 states. MIDWEST DRAMA Good or bad? Nothing much would change though-they will keep separate brands (like Albertsons and Safeway). I just hope the Fry‘s card works for all three stores.
Source: wrtv - 🏆 598. / 51 Read more »
Shares of Albertsons jump on report of potential merger with grocery giant KrogerGreat, take even more competition out of the grocery business. This is not good news where I live, for all there are are Kroger and Albertsons stores.
Source: CNBC - 🏆 12. / 72 Read more »
Grocery chains Kroger, Albertsons in talks for possible merger: reportA possible agreement could reportedly be reached as soon as this week. In February, Albertsons' board of directors launched a review of potential strategic alternatives. Less competition=higher prices & profits. The 'trust' in antitrust. The breaking of supply and demand. Bernie is not going to be happy! The DOJ should never allow this merger.
Source: FoxBusiness - 🏆 458. / 53 Read more »