Kroger, Albertsons plan to sell over 400 stores to C&S Wholesale for nearly $2 billion: Report
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According to Reuters, stores that could be divested by Kroger-Albertsons are in regions and markets where both supermarket companies operate, such as the Pacific Northwest, Southern California, Phoenix and Chicago. And in an updated report Wednesday afternoon, the news service said a deal with C&S could include 400-plus stores for almost $2 billion, based on information from anonymous sources. Kroger is due to report second-quarter results on Friday.
https://www.yahoo.com/finance/news/kroger-albertsons-plan-sell-over-122517716.html
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Our Jewel-Osco old timers are especially grumpy these days because their employment future is grim.
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https://www.reuters.com/business/retail-consumer/krogers-quarterly-same-store-sales-miss-estimates-2023-09-08/ The company said it may need C&S to purchase up to an additional 237 stores in certain geographies to get regulatory nod for the deal, which is on track for an early 2024 close.
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When I searched for C&S Wholesale Grocers I couldn’t see what if any chains they own. So would these be C&S first retail operations?
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@my4mainecoons Maybe a mini Costco model? https://www.cswg.com/
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@sonofzeus I doubt they’ll create a completely new retail model. More likely they’ll purchase certain chains or markets. For example, Kroger east of the Mississippi could be sold to C&S. The entire Shaw’s chain could be sold.
I just read this article about when Albertsons bought Safeway. The deal was approved on condition that Albertsons divest some of the stores in the northwest. They sold 168 stores to Haggen with the assurance that it would help Haggen take them over. Haggen went bankrupt soon after, reportedly because Albertsons hindered not helped the process. Then Albertsons bought back the 168 stores for really cheap when Haggen liquidated its assets. Haggen is now suing Albertsons.
Presumably C&S knows about this and will prevent Albertsons from doing the same to them. They have an advantage. As a distributor they could make things rough for Albertons & Kroger.
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@my4mainecoons We have 5 Jewel within 2-4 mi ripe for a resurrection. Whatever happens next year to the names on the marquis, I want the Midwest supply chains to endure/expand.
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$2 billion in. $1.4 billion out. https://www.bnnbloomberg.ca/kroger-agrees-to-pay-up-to-us-1-4-billion-to-settle-opioid-lawsuits-1.1969064
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@sonofzeus Do Cub and Rainbow still exist?
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@my4mainecoons Cub is long gone. IDK Rainbow.
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@sonofzeus said in Kroger, Albertsons plan to sell over 400 stores to C&S Wholesale for nearly $2 billion: Report:
@my4mainecoons Cub is long gone. IDK Rainbow.
Actually Cub is still around in Minnesota and (according to Wikipedia) Illinois. A friend of mine just mentioned that she does most of her grocery shopping there. Rainbow is no longer in existence though (also according to Wikipedia).
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@hbg1 We watched 2 Cub foods close before the plague here in DuPage County. I don’t monitor marquis outside our immediate area.
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I shopped at Cub when I !ived in MN.
When we cleared out my aunt’s house I took some of the kitchen stuff. I have aluminum foil from grocery chains that disappeared decades ago.
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@my4mainecoons said in Kroger, Albertsons plan to sell over 400 stores to C&S Wholesale for nearly $2 billion: Report:
I shopped at Cub when I !ived in MN.
When we cleared out my aunt’s house I took some of the kitchen stuff. I have aluminum foil from grocery chains that disappeared decades ago.I shopped at Cub too when we lived in Minnesota. Rainbow too. I loved those cardboard boxes.
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Colorado joins Washington in the fight against the proposed Kroger-Albertsons combo. https://www.axios.com/2024/02/14/colorado-sues-to-block-kroger-albertsons-merger
