Here's where Kroger and Albertsons are selling stores ahead of their merger

📆 9/8/2023 7:05 PM
📰 FOX26Houston

⏱ Reading Time:
23 sec. here
2 min. at publisher
📊 Quality Score:
News: 12%
Publisher: 53%

Business News News

Business Business Latest News,Business Business Headlines

Kroger and Albertsons will sell more than 400 stores and other assets for about $1.9 billion, seeking to clear a path for a merger with antitrust regulators reviewing a deal that would unify two of the nation's largest grocery chains.

The 413 stores, along with QFC, Mariano’s and Carrs brand names, are being sold to to C&S Wholesale Grocers. Kroger will also divest the Debi Lilly Design, Primo Taglio, Open Nature, ReadyMeals and Waterfront Bistro private label brands. In addition, C&S will get eight distribution centers and two offices.

. Kroger would also assume $4.7 billion of Albertsons’ debt. The deal is targeted to close early next year. Before the deal with C&S closes, Kroger may, in connection with securing Federal Trade Commission and other governmental clearance, require C&S to buy up to an additional 237 stores in certain regions. If more stores are added to the agreement, C&S will pay Kroger an additional as-yet-to-be-determined financial amount.

Write Comment

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 and Albertsons looking to sell 400 stores to wholesale grocery company, report saysGrocery giants Kroger and Albertsons – the respective parent companies of King Soopers and Safeway – are reportedly in the midst of negotiating an almost $2 billion deal with C&S Wholesale Groc…
Source: denverpost - 🏆 13. / 72 Read more »