Kroger, Albertsons Forge $24.6 Billion Grocery Giant Combination
- Pact creates behemoth that will go toe-to-toe with Walmart
- Companies to sell up to 375 stores as antitrust review looms
This article is for subscribers only.
Kroger Co. agreed to buy Albertsons Cos. in a deal with an enterprise value of $24.6 billion that would create a US grocery giant with almost 5,000 stores and annual revenue of about $200 billion.
Investors will receive $34.10 for each share in Albertsons, which includes a special dividend, the companies said in a statement Friday. That reflects a premium of about 33% to the closing price on Oct. 12, the day before Bloomberg News first reported on the deal talks. The companies plan to offload as many as 375 stores through a spinoff if they can’t find buyers for them.