Kroger And Albertsons Seal The Deal: A $1.9B Sale To Change The Grocery Game
Portfolio Pulse from Akanksha Bakshi
Kroger Co (KR) and Albertsons Companies Inc (ACI) have agreed to sell select stores, distribution centers, offices, and private label brands to C&S Wholesale Grocers for $1.9 billion as part of their proposed merger. The deal, reportedly backed by SoftBank Corp (SFBQF), includes the sale of 413 stores, 8 distribution centers, 2 offices, and 5 private label brands across 17 states and the District of Columbia. The merger is expected to close in early 2024.
September 08, 2023 | 1:45 pm
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NEUTRAL IMPACT
Albertsons is selling assets as part of a proposed merger with Kroger.
The sale of assets is a significant step in the merger process, but it's unclear how this will affect Albertsons' stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Kroger is selling assets as part of a proposed merger with Albertsons.
The sale of assets is a significant step in the merger process, but it's unclear how this will affect Kroger's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
SoftBank is reportedly backing the deal between Kroger, Albertsons, and C&S Wholesale Grocers.
SoftBank's involvement in the deal could have implications for its stock, but the direct impact is uncertain at this time.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50