Kroger and Albertsons Selling 400 Stores for $1.9B to Gain Merger Approval
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Kroger and Albertsons are selling around 400 stores to Piggly Wiggly parent company C&S for $1.9B to gain antitrust approval for merger.
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C&S will acquire 3 smaller grocery brands and Albertsons naming rights in some states.
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Kroger-Albertsons deal expected to close in 2024 pending regulatory approval. When combined, they'll have 5,000 stores and $200B in sales.
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Kroger reported $33.85B Q2 revenue, slightly under estimates. Had $180M net loss compared to $731M net income last year.
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Kroger paying $1.2B to states and $36M to tribes to settle majority of opioid claims against the company.