….deal might be announced this week…..


Albertsons merger with Kroger could be announced this week

....Kroger could announce a deal to buy rival grocery company Albertsons this week, sources told CNBC's David Faber.

Shares of Albertsons jumped and were briefly halted Thursday morning after news that two companies are deep in talks. The stock was up more than 11% in afternoon trading. Kroger rose modestly.

The all-cash acquisition may be announced as soon as Friday morning, sources told Faber.

Kroger is the largest supermarket operator in the country with about two dozen banners, including Fred Meyer, Ralphs, King Soopers, Harris Teeter and its namesake brand. It has nearly 2,800 stores in 35 states and about 420,000 employees. The company trails behind Walmart
, which is the top grocer in the U.S. by revenue.

Albertsons is made up of 20 banners, including Safeway, Acme and Tom Thumb. It has more than 2,200 supermarkets in 34 states and Washington, D.C. Albertsons has 290,000 employees, according to its website.

Kroger is the larger of the two companies, with a market cap of about $32 billion. Albertsons' market cap is about $15 billion.

The two companies did not respond to CNBC's requests for comment. Bloomberg first reported the news of the deal talks earlier Thursday.

The talks come as competition in the grocery industry has intensified. About five years ago, Amazon
spooked legacy grocers by acquiring Whole Foods. Its stores, which now include Amazon Fresh, make up a small percentage of the overall U.S. grocery market, but sparked a wave of investment.

Kroger, for example, struck a deal with British online grocer Ocado to build huge robot-powered fulfillment centers to pick and pack online grocery orders. It has used the business model to break into new markets, including Florida. It also plans to expand in the Northeast.

The coronavirus pandemic also pushed the industry to better cater to customer preferences, with services such as curbside pickup and home delivery. Yet those investments have also pressured grocers' profits. Already, the grocery business is known for its thin margins and inflation has driven up the cost of food.


……supermarkets…….. merge…..?!

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I reject your reality and substitute my own!



Edited 1 time(s). Last edit at 10/13/2022 04:22PM by NewtonMP2100.

Just what we need- another grocery chain merger.

They have a monopoly on the grocery business in my area with three store names. Albertsons, Tom Thumb & Market Street. There are a few Krogers in the surrounding area. This merger would complete their control. Hopefully HEB will continue to expand.

The grocery chains they currently own are at the bottom of this page:

[www.albertsonscompanies.com]


UPDATE:

10/14 Reuters headline: Kroger strikes $25 billion deal for Albertsons to create supermarket titan

[www.thekrogerco.com]

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Long time Mac user



Edited 1 time(s). Last edit at 10/14/2022 08:39AM by SurfMacJpMtb.

Neither in my area anymore, were basically chased out by local Giant HEB.

Hope they come back. Competition is a good thing.

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San Antonio, TX (in the old city)


"All that is required for evil to prevail is for good men to do nothing." - Edmund Burke
“Neutrality helps the oppressor, never the victim. Silence encourages the tormentor, never the tormented." - Eli Weisel

"To announce that there must be no criticism of the President, or that we are to stand by the President, right or wrong, is not only unpatriotic and servile, but is morally treasonable to the American public." - Theodore Roosevelt (1918)

"I don’t want to see religious bigotry in any form. It would disturb me if there was a wedding between the religious fundamentalists and the political right. The hard right has no interest in religion except to manipulate it." - Billy Graham 1981

"Politics and governing demand compromise. But these Christians believe they are acting in the name of God, so they can't and won't compromise" - Barry Goldwater

I honestly didn't know Albertsons was still in business. They all closed in this part of the country 15-20 years ago.

Albertsons stores all became Safeway here.

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MacResource User Map: [www.zeemaps.com]#

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ztirffritz
Albertsons stores all became Safeway here.

But still owned by Albertsons. Did the name Albertsons have negative associations in your area? Just wondering since other stores they own have their own negative associations in this area. Here in MA they have Star Markets and Shaws, used to be one in town here and another in the town I worked in. Both closed now.



Edited 1 time(s). Last edit at 10/13/2022 11:41AM by JoeH.

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JoeH

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ztirffritz
Albertsons stores all became Safeway here.

But still owned by Albertsons. Did the name Albertsons have negative associations in your area? Just wondering since other stores they own have their own negative associations in this area. Here in MA they have Star Markets and Shaws, used to be one in town here and another in the town I worked in. Both closed now.

Well...now that you mention it, we used to refer to the stores with various descriptors that were not flattering...such as "Meth Albertsons" (self explanatory) and "Personal Space Safeway" (for some reason everyone would intrude on your personal space. It was weird).

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MacResource User Map: [www.zeemaps.com]#

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ztirffritz

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JoeH

Quote
ztirffritz
Albertsons stores all became Safeway here.

But still owned by Albertsons. Did the name Albertsons have negative associations in your area? Just wondering since other stores they own have their own negative associations in this area. Here in MA they have Star Markets and Shaws, used to be one in town here and another in the town I worked in. Both closed now.

Well...now that you mention it, we used to refer to the stores with various descriptors that were not flattering...such as "Meth Albertsons" (self explanatory) and "Personal Space Safeway" (for some reason everyone would intrude on your personal space. It was weird).

That’s an Atlanta thing, but in our case for Kroger. “Murder Kroger” and “Disco Kroger” are the most famous examples.

I did not realize that so many folks were in a food monopoly area. I've got a bunch of different chains to choose from in my area, although consolidation and conglomeration is inevitable.

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Hurts like a bastid...

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mrbigstuff
I did not realize that so many folks were in a food monopoly area. I've got a bunch of different chains to choose from in my area, although consolidation and conglomeration is inevitable.

Not in a food monopoly area either, but there are fewer choices available in the area than there were 10-20 years ago. Almost all of the small groceries are gone now, and there are fewer stores from the different chains.

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JoeH

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mrbigstuff
I did not realize that so many folks were in a food monopoly area. I've got a bunch of different chains to choose from in my area, although consolidation and conglomeration is inevitable.

Not in a food monopoly area either, but there are fewer choices available in the area than there were 10-20 years ago. Almost all of the small groceries are gone now, and there are fewer stores from the different chains.

Out your way there's a family run grocery (that I've not been to) close to a friend lived on a nearby street, and reading up on it some months ago made me want to stop by on my next visit.

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Hurts like a bastid...



Edited 1 time(s). Last edit at 10/14/2022 02:22PM by mrbigstuff.

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mrbigstuff

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JoeH

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mrbigstuff
I did not realize that so many folks were in a food monopoly area. I've got a bunch of different chains to choose from in my area, although consolidation and conglomeration is inevitable.

Not in a food monopoly area either, but there are fewer choices available in the area than there were 10-20 years ago. Almost all of the small groceries are gone now, and there are fewer stores from the different chains.

Out your way there's a family run grocery (that I've not been to) close to a friend lived on a nearby street, and reading up on it some months ago made me want to stop by on my next visit.

Foster's Supermarket? I have shopped there a few times, pretty good store. But usually go to Stop & Shop or Big Y due to hours and other preferences.

Somewhat larger but still owned by the family that founded the chain is Big Y. About 70 stores in MA and CT.