Kroger could announce a deal to buy rival grocery company Albertsons this week, sources told CNBC’s David Faber.
Shares of Albertsons jumped and were briefly halted on Thursday morning after news that two companies are deep in talks.
The all-cash acquisition may be announced as soon as Friday morning, sources told Faber.
Kroger is the largest supermarket operator in the country with about two dozen banners, including Fred Meyer, Ralphs, King Soopers, Harris Teeter and its namesake brand. It has nearly 2,800 stores in 35 states and about 420,000 employees. The company trails behind Walmart, which is the top grocer in the U.S. by revenue.
Albertsons is made up of 20 banners, including Safeway, Acme and Tom Thumb. It has more than 2,200 supermarkets in 34 states and Washington, D.C. Albertsons has 290,000 employees, according to its website.
Kroger is the larger of the two companies, with a market cap of about $32 billion. Albertsons’ market cap is about $15 billion.
Kroger and Albertsons by the numbers
KROGER
- 2,800 stores in 35 states
- 420,000 employees
- 25 banners, including Fred Meyer, Ralphs, King Soopers and namesake stores
ALBERTSONS
- 2,200 stores in 34 states and Washington, D.C.
- 290,000 employees
- 22 banners, including Safeway, Acme, Tom Thumb and namesake stores
Source: Company websites, Factset
Source: https://www.cnbc.com/2022/10/13/shares-of-albertsons-jump-on-report-of-potential-merger-with-grocery-giant-kroger.html