Home Market News Kroger and Albertsons in Discussions to Sell Grocery Stores to C&S Wholesalers, Reports Say

Kroger and Albertsons in Discussions to Sell Grocery Stores to C&S Wholesalers, Reports Say

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Kroger and Albertsons in Discussions to Sell Grocery Stores to C&S Wholesalers, Reports Say
Top Grocery Retailer Kroger To Acquire Rival Albertsons For $24.6 Billion

Photo credit: Mario Tama/Getty Images News

Kroger, listed as NYSE:KR, is currently engaged in negotiations with C&S Wholesalers to sell some of its grocery stores. This move is aimed at obtaining antitrust approval for its planned acquisition of Albertsons, which is listed as NYSE:ACI and is valued at $24 billion.

A recent report from Bloomberg, citing sources familiar with the matter, suggests that C&S Wholesalers, backed by Japan’s Softbank Group (OTCPK:SFTBY), could potentially announce a deal to purchase the grocery stores sometime this week. In October, Kroger and Albertsons announced their intention to spin off 100 to 375 stores if no buyers were found.

Details regarding the number of stores C&S Wholesalers plans to purchase and the amount they will pay for them have not been disclosed.

Kroger is determined to finalize the Albertsons acquisition, despite facing opposition. Last month, seven states urged the Federal Trade Commission (FTC) to block the merger.

The states’ request comes as both Albertsons and Kroger await a decision from the FTC regarding the approval or challenge of the supermarket deal. In December, the regulator issued a second request, possibly indicating a decision by early fall, according to some reports.

A lawsuit filed by a group of consumers seeking to block the Albertsons deal was recently dismissed by a judge.

Kroger is scheduled to report its Q2 results on Friday.