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Kroger-Albertsons Merger

Details for the agreement, looking at the numbers. Merger would combine the number one and two grocery retailers in the US.

  • Kroger said it will acquire Albertsons for $34.10 a share, a total enterprise value of approximately $24.6 Billion.

  • It will serve 85 million households nationwide in 48 states.

  • The combined company will consist of 4,996 stores with 710,000 associates.

  • In addition, 66 distribution centers, 52 manufacturing plants, 3,972 pharmacies and 2,015 fuel centers.

  • Current Market Share in U.S.: Kroger 9.9%, Albertsons 5.7% for an estimated 15.6% share compared to Walmart's 20.9% (Excluding Sam's Club).

  • Merger assumes $4.7B Albertsons NET Debt.

  • As part of the transaction, Albertsons will pay a Special Cash Dividend of up to $4 Billion to its shareholders.

  • The merger expects to close in early 2024.

  • Rodney McMullen will continue to serve as Chairman and CEO and Gary Millerchip will continue to serve as CFO of the combined company.

  • Plan for Divested Stores, Regulatory Hurdles, Dividend Payout and other News to follow in future posts.

SOURCES: Supermarket News, Progressive Grocery, Winsight Grocery Business, Drug Store News, Grocery Dive, The Shelby Report

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