Kroger, Albertsons — still hoping to merge — agree to sell more stores to satisfy regulators
Supermarket chains Kroger and Albertsons said Monday they will sell more of their stores in an effort to quell the federal government’s concerns about their proposed merger.
The companies now plan to sell 579 Kroger and Albertsons stores in markets where they overlap to C&S Wholesale Grocers, a New Hampshire grocery supplier and operator, for $2.9 billion. Under the initial divestiture plan, announced in September, C&S had planned to purchase 413 stores for $1.9 billion.
It’s unclear if the new plan will satisfy regulators. In February, the U.S. Federal Trade Commission sued to block the $24.6 billion merger between the grocery giants, saying the lack of competition would lead to higher grocery prices and lower wages for workers.
The FTC also said the initial plan to divest 413 stores to C&S was “inadequate” and would give C&S a hodgepodge of unconnected stores and brands, leaving it ill-equipped to compete with a combined Kroger and Albertsons.
Related articles
Socialite Jasmine Hartin enjoys beach snuggle with electrician hunk
Socialite Jasmine Hartin has been seen enjoying a beach snuggle with her new mystery man.Ms Hartin w2024-05-21Celebrity birthdays for the week of May 19
Celebrity birthdays for the week of May 19-25:May 19: TV personality David Hartman is 89. Actor Jame2024-05-21- ATLANTA (AP) — Zack Short made the most of his first start with Atlanta by breaking a scoreless tie2024-05-21
- DETROIT (AP) — Spencer Torkelson hit a two-run home run to highlight a three-run outburst in the eig2024-05-21
Supreme Court declines to hear challenge to Maryland ban on rifles known as assault weapons
WASHINGTON (AP) — The Supreme Court on Monday declined, for now, to hear a challenge to a Maryland l2024-05-21Celebrity birthdays for the week of May 19
Celebrity birthdays for the week of May 19-25:May 19: TV personality David Hartman is 89. Actor Jame2024-05-21
atest comment