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Albertsons owns the well-known brands Pavilions, Safeway and Vons. Kroger operates Ralphs, Food4Less, Fred Meyer, Fry’s, Quality Food Centers and other popular grocery stores.
Cincinnati-based Kroger proposed to buy all outstanding shares of Boise, Idaho-based Albertsons, adding most of its 285,000 employees and nearly 2,300 stores to its supermarket operation.
Kroger’s $25 billion proposed takeover of rival Albertsons ultimately failed because two judges – one federal and the other from the state of Washington – didn’t buy the competitive vision ...
In October 2022, Kroger agreed to buy Albertsons for $34.10 per share, valuing the deal at $24.6 billion. [1] The acquisition aims to enhance Kroger's competitive edge by expanding its market presence and leveraging economies of scale to offer better prices and services to customers.
Kroger and Albertsons terminated their $25-billion merger plan on Wednesday after a U.S. judge blocked the deal. Albertsons then filed a lawsuit against Kroger, alleging a breach of contract that ...
Albertsons, based in Boise, Idaho, operates roughly 2,300 stores in 34 states, including brands like Jewel Osco, Safeway and Shaw's. Together the companies employ around 700,000 people.
Within a day of their $25 billion merger’s falling apart in court, Kroger and Albertsons were each planning to move forward with share repurchases to boost their stock prices and reward investors.
Albertsons stock was down more than 2.2% on the day and fell further in after hours trading with a decline of more than 0.8% as of Tuesday evening. Reuters contributed to this report.