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.
All fuel centers and pharmacies associated with the divested stores will remain with the stores and continue to operate. The grocery chains say they must merge to compete with Walmart, Amazon and other major companies that have stepped into the grocery business. And there is significant consolidation throughout the grocery sector as companies fight with rising prices for everything from food to workers.
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.
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