Kroger Will Merge With Albertsons, Forming Mega-Grocery Chain

Kroger Will Merge With Albertsons, , Forming Mega-Grocery Chain.
Kroger Will Merge With Albertsons, , Forming Mega-Grocery Chain.
The deal between the two grocery store chains was announced on Oct. 14.
The $24.6 billion deal will lead to one of the most expansive chains of grocery stores in the U.S. .
The $24.6 billion deal will lead to one of the most expansive chains of grocery stores in the U.S. .
The new company will be comprised of nearly 5,000 stores across the country.
The combination creates a premier seamless ecosystem across 48 states and the District of Columbia, , Kroger Statement, via CNN.
... providing customers with a best-in-class shopping experience across both stores and digital channels, Kroger Statement, via CNN.
Kroger CEO Rodney McMullen stated that the merger is an excellent move for the company.
While Kroger and Albertsons have been considered competitors, .
the companies operate independently
in many parts of the country.
[Albertsons] brings a complementary footprint and operates in several parts of the country with very few or no Kroger stores, Rodney McMullen, Kroger CEO, via CNN.
The merger could give the companies more of a competitive edge when it comes to other mega-chains,
including Walmart, Amazon and Costco.
Other lower-price chains such as Trader Joe's and Aldi have also become significant competition.
Other lower-price chains such as Trader Joe's and Aldi have also become significant competition.
The merger announcement comes as
food prices continue to rise.
After the announcement, shares of Albertsons rose by
11 percent, while shares of Kroger dipped slightly.