Both companies will be offloading nearly 600 stores across the United States as part of its proposed $25 billion merger.Grocery giants Kroger and Albertsons will be divesting and selling 28 Texas stores, 25 of which are located in D-FW if its proposed $24.6 billion merger goes through. In total, both companies would look to sell 579 stores to Keene, New Hamp.-based C&S Wholesale Grocers.
The move to release the list comes with a little over a month left to go until both companies go to court in Portland with the U.S. Federal Trade Commission. It’s expected that regulators will decide at that time whether the merger will be approved.Kroger CEO Rodney McMullen said the company has begun notifying employees at its affected stores that they will become C&S employees if the merger closes next month.
Both companies have been trying to seek regulatory approval for the merger since October 2022 when it first announced it. But both have bumped into problems with the FTC over concerns that it would reduce competition and potentially affect product quality and service since both companies would no longer compete with one another.
If the merger closes after its Portland court date, both companies would have a combined 5,000 American stores. To help ease the minds of regulators, Kroger and Albertsons have previously said it would invest $500 million to cut prices and another $1 billion to raise employee pay.Albertsons — 301 S.W. Plaza Shopping Center, ArlingtonMarket Street — 3145 E. Broad St.
United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: commondreams - 🏆 530. / 51 Read more »
Source: CBSHealth - 🏆 480. / 51 Read more »
Source: denverpost - 🏆 13. / 72 Read more »