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Yelm’s Safeway to have new owners again –
Kroger supermarkets to buy parent Albertson’s in mega-deal!

Albertsons and Kroger supermarkets
Credit: Bridget Bennett | Bloomberg | Getty Images via CNBC.

Kroger agrees to buy rival grocery company Albertsons for $24.6 billion

From CNBC:

  • Kroger is the second-largest grocer by market share in the United States, behind Walmart, and Albertsons is fourth, after Costco.
  • The companies said Kroger agreed to buy Albertsons for $34.10 a share in a deal valued at $24.6 billion.
  • Combined, Kroger and Albertsons employ more than 700,000 people across about 5,000 stores.

Kroger is the second-largest grocer by market share in the United States, behind Walmart, and Albertsons is fourth, after Costco. Together, Kroger and Albertsons would be a closer second to Walmart.

Both companies’ boards unanimously approved the agreement, which will also need regulatory approval.

Kroger and Albertsons by the numbers

KROGER

  • 2,800 stores in 35 states
  • 420,000 employees
  • 25 banners, including Fred Meyer, Ralphs, King Soopers and namesake stores
  • $33.3 billion market capitalization

ALBERTSONS

  • 2,200 stores in 34 states and Washington, D.C.
  • 290,000 employees
  • 22 banners, including Safeway, Acme, Tom Thumb and namesake stores
  • $15.2 billion market capitalization

Source: Company websites, FactSet

Posted by Steve on October 14, 2022 at 10:31 am | Permalink

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