Albertsons gives up on Kroger merger and sues the grocery chain for failing to secure deal

FILE - A grocery cart rests in a cart return area with a sign for Albertsons grocery store in the background on Aug. 26, 2024, in Lake Oswego, Ore. Albertsons is giving up on its merger with Kroger a day after it was rejected in two courts and it is suing the grocery chain, saying it didn't do enough to secure regulatory approval for the $24.6 billion agreement.in separate court cases. U.S.

Under the merger agreement, Kroger and Albertsons — who compete in 22 states — agreed to sell 579 stores in places where their locations overlap to C&S Wholesale Grocers, a New Hampshire-based supplier to independent supermarkets that also owns the Grand Union and Piggly Wiggly store brands. On Wednesday, Albertsons said that Kroger failed to exercise “best efforts” and to take “any and all actions” to secure regulatory approval of the companies’ agreed merger transaction.

Kroger willfully breached the Merger Agreement in several key ways, including by repeatedly refusing to divest assets necessary for antitrust approval, ignoring regulators’ feedback, rejecting stronger divestiture buyers and failing to cooperate with Albertsons.

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