Kroger Acquires Albertsons for USD24.6bn

Kroger, third largest retailer in the US, will acquire all of the outstanding shares of Albertsons Companies, for a total value of approximately USD24.6bn. Together, Albertsons Cos. and Kroger currently employ more than 710,000 associates and operate a total of 4,996 stores, 66 distribution centers, 52 manufacturing plants, 3,972 pharmacies and 2,015 fuel centers, and serve over 85 million households.

“We are bringing together two purpose-driven organizations to deliver superior value to customers, associates, communities and shareholders,” said Rodney McMullen, Kroger Chairman and Chief Executive Officer, who will continue serving as Chairman and CEO of the combined company. “Albertsons Cos. brings a complementary footprint and operates in several parts of the country with very few or no Kroger stores. This merger advances our commitment to build a more equitable and sustainable food system by expanding our footprint into new geographies to serve more of America with fresh and affordable food and accelerates our position as a more compelling alternative to larger and non-union competitors.”

The transaction, pending approval from antitrust authorities, is expected to close in early 2024, subject to regulatory clearance and other closing conditions.