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