Market Updates
Kroger and Albertsons Merger Plan to Face Scrutiny
Anand Sheth
14 Oct, 2022
New York City
Albertsons Companies declined 7.4% to $26.50 on news that the company has agreed to be acquired by Kroger for $24.6 billion or $34.10 a share.
Albertsons owns and operates 2,200 stores in 34 states and Washington D.C. with 290,000 employees.
Albertsons store network spans 22 brands including Acme, Safeway and Tom Thumb.
Kroger Co declined 7.7% to $43.99.
Kroger owns and operates 2,800 stores in 35 states with 420,000 employees.
Kroger operates a portfolio of 25 store brands including West Coast-based Ralphs and Fred Meyer.
The acquisition is most likely to draw antitrust scrutiny from regulators as Kroger looks to expand its network and strengthen its position in a market dominated by Walmart and Amazon.
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