CNBCAlbertsons merger with Kroger could be announced this week

October 13, 20220
http://www.gmi-co.com/wp-content/uploads/2022/10/albertsons-merger-with-kroger-could-be-announced-this-week-1280x720.jpg

Kroger in talks to buy Albertsons, sources tell CNBC

Kroger could announce a deal to buy rival grocery company Albertsons this week, sources told CNBC’s David Faber.

Shares of Albertsons jumped and were briefly halted Thursday morning after news that two companies are deep in talks. The stock was up more than 11% in afternoon trading. Kroger rose modestly.

The all-cash acquisition may be announced as soon as Friday morning, sources told Faber.

Kroger is the largest supermarket operator in the country with about two dozen banners, including Fred Meyer, Ralphs, King Soopers, Harris Teeter and its namesake brand. It has nearly 2,800 stores in 35 states and about 420,000 employees. The company trails behind Walmart, which is the top grocer in the U.S. by revenue.

Albertsons is made up of 20 banners, including Safeway, Acme and Tom Thumb. It has more than 2,200 supermarkets in 34 states and Washington, D.C. Albertsons has 290,000 employees, according to its website.

Kroger is the larger of the two companies, with a market cap of about $32 billion. Albertsons’ market cap is about $15 billion.

Kroger and Albertsons by the numbers

KROGER

  • 2,800 stores in 35 states
  • 420,000 employees
  • 25 banners, including Fred Meyer, Ralphs, King Soopers and namesake stores

ALBERTSONS

  • 2,200 stores in 34 states and Washington, D.C.
  • 290,000 employees
  • 22 banners, including Safeway, Acme, Tom Thumb and namesake stores

Source: Company websites, Factset

Leave a Reply

Your email address will not be published. Required fields are marked *

700 Louisiana Street , Houston TX. 77002
(+1) 832-390-2738
info@gmi-co.com

Follow us:

FREE CONSULTATION

Calls may be recorded for quality and training purposes.

Copyright © GMI 2020