Kroger, Albertsons Reach $24.6-Billion Dollar Merger Deal

(Cincinnati, OH) — Supermarket giant Kroger is buying rival Albertsons for more than 24-billion dollars. The chains announced Kroger will pay 24-point-six billion dollars to add Albertsons’ 22-hundred stores to its nearly 28-hundred store portfolio. Kroger is the nation’s second-largest grocer by market share, behind Walmart, and Albertsons is fourth, behind Costco. The merger will make the new five-thousand store heavyweight a closer second to Walmart. Kroger’s banners include Ralphs, Food 4 Less in SoCal, plus Fred Meyer, Fry’s, Harris Teeter, King Soopers, Smith’s, and its namesake brand. Albertsons’ stores include Safeway, Acme, Tom Thumb, and its own brand.