
Credit: Bridget Bennett | Bloomberg | Getty Images via CNBC.
Kroger agrees to buy rival grocery company Albertsons for $24.6 billion
- Editor’s note: Safeway was purchased by Albertson’s reported on this blog in March 2014, which led to the Yelm store’s complete make-over.
- While the Kroger name is not well known here, they own Fred Meyer and QFC.
- The Olympian: Washington grocery sites could face reshuffling as Kroger-Albertsons merger unfolds
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
Post a comment
No comments yet. You should be kind and add one!
By submitting a comment you grant Yelm Community Blog a perpetual license to reproduce your words and name/web site in attribution. Inappropriate and irrelevant comments will be removed at an admin’s discretion. Your email is used for verification purposes only, it will never be shared.