Kroger and Albertsons looking to sell 400 stores to wholesale grocery company, report says

Grocery giants Kroger and Albertsons – the respective parent companies of King Soopers and Safeway – are reportedly in the midst of negotiating an almost $2 billion deal with C&S Wholesale Grocers and SoftBank Group Corp. to sell hundreds of their stores.

An announcement about the deal could come “as soon as this week,” with the stores sold for “antitrust reasons,” according toRepresentatives for C&S Wholesale declined to comment on Thursday, while spokespeople for Kroger, Albertsons and SoftBank Group Co. didn’t immediately respond to a request for comment.expected to close in early 2024

“We’re in the middle of talking to several different people in terms of interest in buying the stores that will be divested,” Kroger CEO Rodney McMullen toldin July. “The stores that we divest, we will sell them to strong, viable competitors that are committed to supporting the union.”

Singapore Singapore Latest News, Singapore Singapore Headlines

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

Alaska unions urge Biden administration to block Albertsons-Kroger mergerOfficials with unions say they currently represent workers across Carrs Safeway stores, while the union presence at Fred Meyer stores is limited, raising questions about whether a newly merged company will support union contracts.
Source: adndotcom - 🏆 293. / 63 Read more »