Kroger, Albertsons Announce $25 Billion Merger Deal
LOS ANGELES—Grocery giants Kroger and Albertsons have confirmed a merger agreement that would create a mega-chain of about 5,000 stores across the nation, assuming the deal escapes an antitrust review from federal regulators.
Under the deal announced Oct. 14, Kroger—the parent company of Ralphs—will obtain Albertsons Cos. for roughly $25 billion. According to Kroger, the combined new company will include nearly 5,000 stores, 66 distribution centers, 52 manufacturing plants, 3,972 pharmacies, and 2,015 fuel centers.
It was unclear what impact the deal will have on the more than 710,000 employees who work for the two companies.
Local chapters of the United Food and Commercial Workers (UFCW) union that represent grocery workers issued a statement expressing concern about the deal, saying it will create a monopoly that will harm employees and consumers….