Seven years after Albertsons bought Safeway, Kroger is planning to acquire Albertsons in a deal that would create a grocery giant almost big enough to knock Walmart out of the.
(Newser)
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Seven years after Albertsons bought Safeway, Kroger is planning to acquire Albertsons in a deal that would create a grocery giant almost big enough to knock Walmart out of the No. 1 spot. Kroger is currently No. 2, and it would likely remain so under the proposed merger: The two saw $209 billion in combined revenue last year, compared to Walmart’s $218 billion in grocery sales, the New York Times reports. Kroger said it would buy Albertsons, the No. 4 biggest grocer, for $34.10 a share, around 30% higher than the firm’s average share price in recent weeks, reports CNN.
