Kroger merging with Albertsons, creating one of the largest grocery chains in US
Kroger and Albertsons are uniting.
The two former competitors are merging as part of a $24.6 billion deal, creating one the largest grocery store chains in the U.S. with a total of 5,000 combined. Kroger operates 10 stores in 7 Alabama cities – Auburn, Huntsville, Opelika, Decatur, Lanett, Hartselle and Madison. Currently, there are no Albertsons in Alabama, according to its website.
“We are bringing together two purpose-driven organizations to deliver superior value to customers, associates, communities and shareholders,” said Rodney McMullen, Kroger Chairman and Chief Executive Officer, who will continue serving as Chairman and CEO of the combined company.
The chains employ more than 710,000 associates and operate 66 distribution centers, 52 manufacturing plants, 3,972 pharmacies and 2,015 fuel centers, in addition to the total of 4,996 stores.
Kroger will buy Albertsons for $34.10 a share, according to a release from Kroger. The merger, which still requires regulatory approval, is expected to be finalized in 2024.