pwshub.com

Grocery Giants' Merger Deal Sweetened with Expanded Store Divestment

Grocery Giants' Merger Deal Sweetened with Expanded Store Divestment
Grocery Giants' Merger Deal Sweetened with Expanded Store Divestment

Under federal scrutiny, supermarket chains Kroger and Albertsons announced an updated divestiture plan, proposing to sell 35 Kroger and Albertsons-owned stores in Illinois. This is an increase from the 14 Kroger stores initially planned for divestiture in September.

The divestiture is part of the companies' efforts to address concerns raised by regulators over their planned merger. The Federal Trade Commission has sued to block the merger, citing potential competition concerns and the inadequacy of the initial divestiture plan.

The updated plan includes the sale of a total of 579 Kroger and Albertsons stores in overlapping markets to C&S Wholesale Grocers for $2.9 billion. C&S would acquire the Haggen banner from Kroger and license the Albertsons banner in California and Wyoming, and the Safeway banner in Arizona and Colorado. The company would also gain access to private-label brands and is expected to keep all stores open and honor labor agreements.

newsid: 3f3784k9tyb7ine

Related stories
4 hours ago - Wall Street pros say there's more room to grow with stock markets around record highs.
7 hours ago - This is The Takeaway from today's Morning Brief, which you can sign up to receive in your inbox every morning along with:The chart of the dayWhat...
19 hours ago - Some companies have a knack for making their investors richer. They operate highly profitable businesses, giving them ample cash to fund their...
22 hours ago - The FDA has issued a warning about possible Salmonella contamination of candy sold in New Mexico and Texas.
1 day ago - The airline industry has faced growing pressure from the U.S. government to improve its pricing transparency
Other stories
10 minutes ago - Chinese nationals tried to enter U.S. military sites more than 100 times last year, often posing as food delivery drivers or tourists, per reports.
10 minutes ago - The major indexes are at record highs, but the AI leader's earnings and guidance are critical.
10 minutes ago - Ex-air force captain Ed Dwight, passed over by Nasa in 1961, now oldest person to reach edge of space with Jeff Bezo’s space firm
10 minutes ago - An Anrabess long T-shirt dress is on sale for half-off its original price at Amazon. The $26 maxi dress comes in 32 colors and patterns and is the perfect breezy style for summer.
13 minutes ago - The near-term weakness that this cybersecurity stock is facing could eventually pave the way for stronger long-term growth thanks to AI.