Grocery Giants Kroger, Albertsons to Merge
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Grocery Giants Kroger and Albertsons to Merge
In a move that will reshape the grocery landscape, Kroger and Albertsons have announced plans to merge, creating a retail behemoth with over 4,900 stores and $200 billion in annual sales.
The merger, which is expected to close in early 2024, will combine Kroger's strong presence in the Midwest and Southeast with Albertsons' dominance in the West and Southwest.
The combined company will operate under the Kroger banner and will be led by Kroger CEO Rodney McMullen. Albertsons CEO Vivek Sankaran will become vice chairman of the combined company.
The merger is expected to generate significant cost savings, which the companies plan to pass on to customers in the form of lower prices.
The deal has already received the approval of both companies' boards of directors and is now subject to regulatory approval.
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