In October 2022, I shared a big announcement in the retail world: Two massive, U.S. grocery store chains, Kroger and Albertsons, had agreed to merge, in a deal worth nearly $25 billion:
CNBC:
Rival grocers Kroger and Albertsons on Friday announced plans to team up.
The companies said Kroger agreed to buy Albertsons for $34.10 a share in a deal valued at $24.6 billion. Albertsons shares had closed Thursday at $28.63 after surging on reports that a deal was imminent.
Kroger is the second-largest grocer by market share in the United States, behind Walmart, and Albertsons is fourth, after Costco. Together, Kroger and Albertsons would be a closer second to Walmart.
Both companies’ boards unanimously approved the agreement, which will also need regulatory approval.
It can’t be exaggerated how massive this new, “Frankenstein” monster of a food chain would be–and how it would affect…
