Supermarket chains Kroger and Albertsons said Monday they will sell more of their stores in an effort to quell the federal government’s concerns about their proposed merger.
It’s unclear if the new plan will satisfy regulators. In February, the U.S. Federal Trade Commission sued to block the $24.6 billion merger between the grocery giants, saying the lack of competition would lead to higher grocery prices and lower wages for workers. Under the updated plan, Kroger would sell its Haggen banner to C&S. C&S would also license the Albertsons banner in California and Wyoming and the Safeway banner in Arizona and Colorado. C&S would also get access to some private-label brands in the stores. Under the proposal, C&S would keep all of the stores open and honor any labor agreements.
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Kroger, Albertsons -- still hoping to merge -- agree to sell more stores to satisfy regulatorsSupermarket chains Kroger and Albertsons say will sell more of their stores in an effort to quell the federal government’s concerns about their proposed merger. The companies said Monday they would now sell 579 Kroger and Albertsons stores to C&S Wholesale Grocers, a New Hampshire-based grocery company, for $2.9 billion.
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Kroger, Albertsons — still hoping to merge — agree to sell more stores to satisfy regulatorsSupermarket chains Kroger and Albertsons say they will sell more of their stores in an effort to quell the federal government's concerns about their proposed merger.
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Kroger, Albertsons — still hoping to merge — agree to sell more stores to satisfy regulatorsThe companies now plan to sell 579 Kroger and Albertsons stores in markets where they overlap to C&S Wholesale Grocers, a New Hampshire grocery supplier and operator, for $2.9 billion. Under th…
Source: denverpost - 🏆 13. / 72 Read more »
Kroger and Albertsons, still hoping to merge, agree to sell more stores to satisfy regulatorsThe companies now plan to sell 579 Kroger and Albertsons stores in markets where they overlap to C&S Wholesale Grocers.
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