Two of the nation’s largest grocers have agreed to merge in a deal that would help them better compete with Walmart, Amazon and other major companies that have stepped into the grocery business.
Kroger on Friday bid $20 billion for Albertsons Companies Inc., or $34.10 per share. Kroger will also assume $4.7 billion of Albertsons’ debt.
Kroger operates 2,800 stores in 35 states, including brands like Fred Meyer and QFC.
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Alberstons operates 2,220 stores in 34 states, including brands like Safeway.
Together the companies employ 710,000 people.
The deal will likely get heavy scrutiny from U.S. regulators, especially at a time of high food price inflation.
Central Oregon Daily News contributed to this report.
