Kroger & Albertsons set to sell 400 stores for close to $2billion as fears persist that merger could hurt shoppers
KROGER and Albertsons are divesting 400 businesses valued at nearly $2 billion to address antitrust concerns surrounding their merger.
Kroger announced its $25 billion merger with Albertsons last October, but both companies have been heavily criticized by the public and the US Congress.
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The two major retailers are under investigation by the Federal Trade Commission amid concerns the merger could reduce competition and increase prices.
To deflect those antitrust concerns from federal regulators, Kroger said in his merger announcement that the combined store will likely divest some businesses.
Recent talks between Kroger, Albertsons and C&S Wholesale Grocers are likely to be nearing completion, according to people familiar with the situation.
If the deal goes through, C&S will vastly expand its footprint, which currently consists of around two dozen locations under the Grand Union and Piggly Wiggly brands.
According to a source, an investment group from Japan is negotiating a deal with C&S to fund part of the purchase.
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