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The grocery store operators had said they’d be able to cut prices by combining, but regulators and a judge disagreed. Now they’re investing moves to reward shareholders.
Albertsons Companies, Inc. [1] [2] is an American grocery company founded and headquartered in Boise, Idaho. With 2,253 stores as of the third quarter of fiscal year 2020 and 270,000 employees as of fiscal year 2019, [3] [8] [6] the company is the second-largest supermarket chain in North America after Kroger.
The $24.6-billion merger of Kroger and Albertsons supermarkets was designed to enrich corporate insiders at the expense of consumers. It won't be missed.
But increased grocery prices are more appropriately attributed to the inflation experienced during the COVID-19 pandemic: Food price inflation was 6.3 and 10.4 percent in 2021 and 2022, and only 2 ...
Under the merger agreement, Kroger and Albertsons — who compete in 22 states — agreed to sell 579 stores in places where their locations overlap to C&S Wholesale Grocers, a New Hampshire-based supplier to independent supermarkets that also owns the Grand Union and Piggly Wiggly store brands.
Albertsons is unlikely to find another merger partner because it has significant debt and underperforming stores in most of its markets., Flickinger said. Consumers will feel the most immediate impact of the deal's demise, he said, since Albertsons charges 12% to 14% more than Kroger and other grocery rivals.
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