Two grocery giants announced Friday morning they will become one. Kroger – which owns the Mariano's chain – and Albertson's – which owns Jewel – have agreed to a merger.
"We are bringing together two purpose-driven organizations to deliver superior value to customers, associates, communities and shareholders," said Kroger chairman and CEO Rodney McMullen, who will continue as chair and CEO of the combined company. Still, that is a distant second to Walmart's 22% share. Amazon, which bought Whole Foods in 2017, is also a growing player in the space, with 3% share. Warehouse store Costco controls 6%.
Kroger said would reinvest approximately $500 million into price reductions, and spend $1.3 billion updating Albertsons stores and $1 billion on higher employee wages and improved benefits. It was no secret that Albertsons was thinking about selling the company. The chain announced in February that its board was reviewing options to enhance shareholder value, including developing new businesses or a sale.
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How could this possibly be good for customers
Say hello to more food deserts
It was inevitable.
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Kroger, Albertsons grocery stores announce $24.6 billion mergerKroger and Albertson grocery stores announced Friday a plan to merge together. According to a press release, the plan contains establishing, 'a national footprint' and uniting around Kroger's Purpose to Feed the Human Spirit.
La source: SpectrumNews1TX - 🏆 333. / 59 Lire la suite »
Owners of Fred Meyer and Safeway grocery chains propose massive $24.6 billion mergerKroger Co. has agreed to buy Albertsons Cos. in a deal that is sure to face tough antitrust scrutiny by the Biden administration. 'sure to face tough antitrust scrutiny by the Biden administration.' I’m pretty sure the Shadowrun trilogy is still on XboxGamePass. ;) Kroger is trash.
La source: adndotcom - 🏆 293. / 63 Lire la suite »
Kroger agrees to buy rival grocery company Albertsons for $24.6 billionKroger is the second-largest grocer by market share in the United States, behind Walmart, and Albertsons is fourth, after Costco. Albertsons isn’t Safeway. Kroger pump
La source: CNBC - 🏆 12. / 72 Lire la suite »
Kroger announces deal to merge with Albertsons to form a mega grocery chain | CNN BusinessKroger announced it's merging with Albertsons in a $24.6 billion deal, creating one of the largest grocery store chains in the United States with nearly 5,000 stores when combined. Inflation: 14 Consumers: 0 Well, this won't help food prices or the bare shelves (and poor quality) at Kroger. I don't suppose the FTC will step in to thwart this attempted monopoly? Kroger sucks. I feel so sorry for their workers.
La source: cnnbrk - 🏆 393. / 55 Lire la suite »