BusinessOctober 17, 2022
Kroger buys grocery chain competitor
Kroger announced Friday it will buy grocery competitor Albertsons for $24.6 billion, a move combining the nation's two largest supermarket chains. In Southeast Missouri, Kroger has a store in Poplar Bluff. The Cincinnati-based conglomerate also owns Ruler Foods, a discount chain carrying mostly Kroger merchandise, which has a store at 2103 William St. in Cape Girardeau...
Kroger announced Friday it will buy grocery competitor Albertsons for $24.6 billion, a move combining the nation's two largest supermarket chains.
In Southeast Missouri, Kroger has a store in Poplar Bluff. The Cincinnati-based conglomerate also owns Ruler Foods, a discount chain carrying mostly Kroger merchandise, which has a store at 2103 William St. in Cape Girardeau.
Albertsons had a 56,540-square-foot Cape Girardeau store at 2126 Independence St. from Feb. 21, 2001, to March 22, 2002. The 24-hour market, employing 170 people, closed after 13 months because of what a company spokesman at the time called "unprofitability." The former Albertsons site is now occupied by Healthpoint Fitness.
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The current deal requires scrutiny and approval by federal antitrust regulators.
Albertsons, which went public two years ago, merged with Safeway in 2015 and then unsuccessfully tried to merge with pharmacy chain Rite Aid in 2018.
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