Kroger, Albertsons to sell 166 more stores with $25B merger in limbo

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Kroger and Albertsons plan to sell an additional 166 stores to C&S Wholesale Grocers, bringing the total to 579 stores that would be sold to make way for their proposed merger.

Kroger and Albertsons said Monday the two companies are increasing the number of grocery stores they sell to C&S Wholesale Grocers to address federal regulators' concerns about the impact of their proposed $25 billion merger on competition. An additional 166 Kroger and Albertsons stores will be sold to C&S as part of an updated divestiture agreement between the three companies.

Importantly, the updated divestiture plan continues to ensure no stores will close as a result of the merger and that all frontline associates will remain employed, all existing collective bargaining agreements will continue, and associates will continue to receive industry-leading health care and pension benefits alongside bargained-for wages," McMullen added.

district court in Oregon will hold a hearing in August on the FTC's request for a preliminary injunction to block the deal. Tom Geiger, spokesperson for UFCW 3000, which represents Kroger and Albertsons unionized employees in Washington, Oregon and Idaho, said that members are concerned that C&S might resort to selling the real estate of stores if it lacks the necessary IT infrastructure, customer loyalty and manufacturing capabilities.

 

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