Kroger And Albertsons Plan Merger To Combine 2 Largest Supermarket Chains

Kroger plans to buy Albertsons in a deal valued at $24.6 billion, a merger that would merge the two largest grocery-store chains in the U.S., the companies said on Friday.

The deal is likely to draw intense scrutiny from federal regulators and critics as it would form a new supermarket colossus at a time of soaring food costs.Kroger is the largest supermarket operator in the U.S., with 420,000 employees and more than 2,700 stores, including Ralphs, Harris Teeter, Fred Meyer, and King Soopers. Albertsons is the country's second-largest supermarket company, with 290,000 employees and almost 2,300 stores, including Safeway and Vons.

The two overlap in several markets, largely in the western part of the country. Their tie-up would involve spinning off up to 375 stores into a separate company, the companies said. In the , Kroger said it would"reinvest approximately half a billion dollars of cost savings from synergies to reduce prices for customers" and invest $1 billion to raise wages and benefits for workers.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

King Soopers’ parent company Kroger and Albertsons to move forward with $25 billion mergerJUST IN: Kroger will acquire Albertsons for almost $25 billion. The parent company of King Soopers will merge with Albertsons in a move that will impact two of Colorado’s well-known retailers. I wish they would model after HEB. That's a different tier of grocery store. Soobertsons? Alberpers? Soosons? King Alberts? How is this good for the consumer?
Source: denverpost - 🏆 13. / 72 Read more »