Kroger agrees to buy rival grocery company Albertsons for $24.6 billion

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The companies said Kroger agreed to buy Albertsons for $34.10 a share in a deal valued at $24.6 billion.

Kroger and Albertsons also each have numerous store banners, including names that the operators have acquired over the years. Kroger's banners include Fred Meyer, Ralphs and King Soopers, and Albertsons' banners include Safeway, Acme and Tom Thumb.Kroger captured about 9.9% of the U.S. grocery market in the 12 months ended June 30, according to market researcher Numerator. Albertsons' share was 5.7%.

Some of the companies' markets have significant overlap, such as Southern California, Colorado, Seattle and parts of the Midwest and Texas, Simeon Gutman, a retail analyst for Morgan Stanley, wrote in a research note Thursday. Other regions, such as the Northeast and Southeast, have very little overlap.

 

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but they can’t pay their workers more than the minimum wage

Listen, I've got plenty of rolls! Make it an even 30 bil and you can bring the spread. 😳

Great, double milk prices.

The rise of the American oligarchs.

Great… now to add to inflation… I have to pay more to buy the Albertsons near me

Posted repeatedly for the past 3 days. Fresh content, PLEASE!!

. The companies could lower prices and pay workers more.......but they went with reducing competition. .

Monopoly

So is Albertsons Stadium(Boise State University football)going to be Kroger Stadium?

Joe Biden is invested

And you think inflation is bad now?!

Cool so we get to pay even more for groceries

Yay. Higher prices. Less competition is bad for people, good for business.

Hopefully this move will allow them to lower prices. Albertsons tends to be about 30% more expensive than Walmart in my area. Kroger is a little bit better but still more expensive. Kroger’s appeal is that they have better seafood and cheese.

lenniearizona In my area (Arizona) this would be closer to a monopoly on groceries. Fry's here is large grocery already owned by Kroger and then there is Safeway, and Albertsons. Basha's/Food City are working through their purchase by another corporation) and a few smaller franchises.

Man if anyone thinks one giant company owning that much of the food supply chain is good then you got another thing coming.

Albertsons is expensive!

Didn't Albertsons buy Kroger a few years ago? What's going on here? I think there's only like 2 grocery stores.

WOW

We don’t have these stores in our state

And you thought prices were high before? This type of obscene market consolidation is what the FTC was created to combat.

Wow, that’s $24.6 billion in stolen wages.

This never brings prices down.

There must be a law about monopolies, right? I deal with Kroger every week and they would love to eliminate the competition. They were given five years before Walmart was allowed to open here and their prices skyrocketed, taking full advantage of no competition. Why allow this?

Woman💚Life🤍Freedom❤️ MahsaAmini

Monopolies are the only way to make real money.

They still have Albertson’s?

Consolidation and food control. Straight from the socialist playbook.

Please explain inflation again.

Hey HEB big stuff going down..

Ugh.

I’m Mike Weirsky, the lottery winner of $273m in New Jersey ..... giving back to people, this is too much money for me I'm helping those who is in needs. 🚨🚨🚨🚨🚨🚨

This is a terrible idea. The government should block it, but it won't

Kroger pump

It will be a monopoly if it goes through. Grocery prices will cost even more. Antitrust

Why not merge them all into one store called “grocery store.”

But can’t give the employees a 50 cent raise…

Albertsons isn’t Safeway.

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