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Sources Speculate Kroger Might Acquire Overstock.com

Sources Speculate Kroger Might Acquire Overstock.com

CINCINNATI, OH – With Amazon still leading the pack in online grocery, major brick-and-mortar retailers looking to join the running are acquiring online grocers and startups to actively compete in the market. Last week, Kroger made known its e-commerce expansion plans after sending an indication of interest in acquisition to grocery startup Boxed. And, according to the New York Post, Boxed isn’t the only online grocer Kroger is eyeing; the retailer is also rumored to have interest in a deal with Overstock.com.

Bill Bishop, Co-Founder, Bricks Meets Clicks“Buying Overstock is a very solid growth strategy if and when Kroger pulls the trigger,” said Bill Bishop, Co-Founder of Bricks Meets Clicks, a consulting firm, according to the New York Post. “This is a land rush right now. They know they need to grow, and it’s difficult to grow in the grocery space.”

Kroger storefront

Adding to the speculation, Overstock CEO Patrick Byrne said in December that selling the business to a brick-and-mortar retailer was a possibility as he plans to reorganize to focus on blockchain technology, according to a report by Bloomberg.

Will Kroger purchase both online grocers in order to up its chances of succeeding in the e-commerce realm? AndNowUKnow will continue to report as the story unfolds.