With a $24 6 billion merger coming we look at the grocery business HEAD TOPICS
With a $24 6 billion merger coming we look at the grocery business
10/22/2022 8:52:00 PM Nearly every food category has gone up 5% in 2022
Source L A Daily News
With a $24 6 billion merger coming we look at the grocery business Nearly every food category has gone up 5% in 2022 UPDATED:October 22, 2022 at 10:52 a.m.On Oct. 14, a $24.6 billion deal between Kroger Co. and Albertsons wasproposedthat would make a 5,000 grocery store giant. Today we look at the national landscape of the grocery business.The deal would create a beefed-up competitor to Walmart Inc. and other rivals, so it’s sure to face tough antitrust scrutiny as U.S. regulators under President Joe Biden cast a more skeptical eye on big mergers. The massive merger is among the retail industry’s biggest transactions in years, such as Amazon.com Inc.’s purchase of Whole Foods Market in 2017 for $13.7 billion.The merger would give Kroger entry into the Northeast, filling out its national footprint. The Cincinnati-based parent of Ralphs and Fred Meyer is the No. 2 grocery seller in the U.S., with a 9.9% market share compared with Walmart’s almost 21%, according to Numerator. Albertsons ranks fourth with 5.7%, and its portfolio includes the Acme, Jewel-Osco, Safeway, Shaw’s and Tom Thumb chains as well as its eponymous stores. Read more:
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