Kroger and Albertsons are abandoning over 400 locations in a new sale they hope will earn them approval from antitrust regulators.
to buy Albertsons for nearly $25 million, CNN reported. The deal is set to combine two of the biggest supermarket companies in the U.S. and result in one of the largest mergers in the country's history. Together, these companies operate dozens of grocery chains. Kroger owns chains that include Ralphs, Harris Teeter, Dillons, and Fred Meyer, while Albertsons owns Safeway and Vons.
Kroger and Albertsons are expecting to complete their merger in 2024, and the two companies have said they believe they have a""We expect to make store divestitures in certain areas, and we will work cooperatively with the Federal Trade Commission to obtain clearance for the transaction," Kroger finance chiefIn other words, the companies are planning to offload hundreds of stores to win approval from antitrust regulators.
Before divestitures, Kroger and Albertsons would have a combined 710,000 workers and nearly 5,000 stores when merged. The companies are hoping to ease concerns about their potential control over the grocery market by selling off certain locations to competitors.
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