stone-zone-2
On Air Now
1071-talk-radio-logo-white%402x-png
The Stone Zone – Roger Stone
8PM to 9PM

Kroger Seeks To Create Grocery Giant in $20B Albertsons Bid

syndication-the-commercial-appeal-11

(AP) — Two of the nation’s largest grocers have agreed to merge in a deal that would help them better compete with Walmart, Amazon and other major companies that have stepped into the grocery business.

Kroger on Friday bid $20 billion for Albertsons Companies Inc., or $34.10 per share. Kroger will also assume $4.7 billion of Albertsons’ debt.

Kroger operates 2,800 stores in 35 states, including brands like Ralphs, Smith’s and Harris Teeter. Alberstons operates 2,220 stores in 34 states, including brands like Safeway, Jewel Osco and Shaw’s.

Together the companies employ 710,000 people. The deal will likely get heavy scrutiny from U.S. regulators, especially at a time of high food price inflation.

—Copyright 2022 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Related Articles

Loading...
sports_video_header3