Kroger, Albertsons, and C&S Wholesale Grocers Provide Merger Update



Kroger, Albertsons, and C&S Wholesale Grocers Provide Merger Update


Sponsored Message
Learn More

CINCINNATI, OH - Avid readers of ANUK have been keeping track of the merger that is taking place between Kroger and Albertsons, and recently, a new update has been shared. The companies have issued a joint statement alongside C&S Wholesale Grocers as potential delays may be on the horizon.

“In light of our continuing dialogue with the regulators, we are updating our anticipated closure timeline. We currently anticipate that the closing will occur in the first half of Kroger's fiscal 2024. While this is longer than we originally thought, we knew it was a possibility, and our merger agreement and divestiture plan accounted for such potential timing,” the companies stated in a press release from Kroger. “We remain committed to closing the transaction and providing the meaningful and measurable benefits that we promised when we originally announced the transaction."

As an update to their pending merger, Kroger and Albertsons recently issued a joint statement alongside C&S Wholesale Grocers
As an update to their pending merger, Kroger and Albertsons recently issued a joint statement alongside C&S Wholesale Grocers

Kroger's combination with Albertsons, the company noted in the release, will mean lower prices and more choices for more customers. In action of this, Kroger said it will invest $500 million to reduce prices beginning day one, as well as an incremental $1.3 billion to enhance the customer experience.

Despite this, CNN reports a lawsuit has been filed by Washington State, with Attorney General, Bob Ferguson, arguing to block the move. As the report suggests, concerns such as limited grocery options are raised by the plaintiff.

"We remain in active and ongoing dialogue with the Federal Trade Commission and individual state Attorneys General regarding our proposed merger and divestiture plan,” the statement from Kroger continued. “We believe our merger with Albertsons and the comprehensive divestiture to C&S will result in the best outcomes for customers, associates, and our communities.”

Kroger is committed to protecting good-paying union jobs, with no store closures or frontline associates laid off as a result of the merger. In addition, Kroger will invest an incremental $1 billion to raise wages and comprehensive benefits for all associates post-close.

Kroger will invest $500 million to reduce prices beginning day one, as well as an incremental $1.3 billion to enhance the customer experience
Kroger will invest $500 million to reduce prices beginning day one, as well as an incremental $1.3 billion to enhance the customer experience

As the identified divestiture buyer, C&S Wholesale Grocers has also committed to recognizing the union workforce, maintaining all collective bargaining agreements, retaining frontline employees, and further investing for growth.

The merger will also result in more opportunities to invest in communities across the United States, as Kroger continues its mission to create neighborhoods free from hunger and food waste.

Keep reading AndNowUKnow for future updates on the merger.

Kroger Albertsons C&S Wholesale Grocers