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
- 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.
Both companies’ boards unanimously approved the agreement, which will also need regulatory approval.
Kroger and Albertsons by the numbers
- 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
- 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