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Kroger may announce a deal to purchase rival grocery firm Albertsons this week, sources instructed CNBC’s David Faber.
Shares of Albertsons jumped and have been briefly halted Thursday morning after information that two corporations are deep in talks. The inventory was up greater than 11% in afternoon buying and selling. Kroger rose modestly.
The all-cash acquisition could also be introduced as quickly as Friday morning, sources instructed Faber.
Kroger is the most important grocery store operator within the nation with about two dozen banners, together with Fred Meyer, Ralphs, King Soopers, Harris Teeter and its namesake model. It has practically 2,800 shops in 35 states and about 420,000 staff. The corporate trails behind Walmart, which is the highest grocer within the U.S. by income.
Albertsons is made up of 20 banners, together with Safeway, Acme and Tom Thumb. It has greater than 2,200 supermarkets in 34 states and Washington, D.C. Albertsons has 290,000 staff, in accordance with its web site.
Kroger is the bigger of the 2 corporations, with a market cap of about $32 billion. Albertsons’ market cap is about $15 billion.
Kroger and Albertsons by the numbers
KROGER
- 2,800 shops in 35 states
- 420,000 staff
- 25 banners, together with Fred Meyer, Ralphs, King Soopers and namesake shops
ALBERTSONS
- 2,200 shops in 34 states and Washington, D.C.
- 290,000 staff
- 22 banners, together with Safeway, Acme, Tom Thumb and namesake shops
Supply: Firm web sites, Factset
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