Kroger and Albertsons sell 400 stores to Piggly Wiggly’s parent company
- Kroger and Albertsons have agreed to sell over 400 stores and other assets for $1.9 billion to C&S Wholesale Grocers in order to gain antitrust approval for their merger. The brands being sold include QFC, Mariano's, and Carrs, along with private label brands like Debi Lilly Design and Primo Taglio. The deal is expected to close early next year.
- The merger between Kroger and Albertsons is driven by the need to compete with major companies like Walmart and Amazon in the grocery business. Rising prices and consolidation in the industry have also influenced the decision to merge. Discount grocer Aldi recently announced plans to buy 400 Winn-Dixie and Harveys supermarkets.
- C&S Wholesale Grocers, a major grocery wholesaler and operator of Piggly Wiggly and Grand Union stores, will acquire the divested stores and assets. Kroger Chairman and CEO Rodney McMullen emphasized that C&S will honor collective bargaining agreements and retain frontline associates.
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Kroger and Albertsons looking to sell 400 stores to wholesale grocery company, report says
Grocery giants Kroger and Albertsons – the respective parent companies of King Soopers and Safeway – are reportedly in the midst of negotiating an almost $2 billion deal with C&S Wholesale Grocers and SoftBank Group Corp. to sell hundreds of their stores. The potential acquisition could impact more than 400 locations, including an unidentified number in “mountain states,” Reuters reported. The would-be purchaser, New Hampshire-based wholesale co…
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