CHARLOTTE — The Kroger Co.’s planned, $25 billion acquisition of Albertsons Cos. will face U.S. Senate hearings over antitrust concerns, according to published reports.
The Senate will hold hearings next month on the deal, Bloomberg News reported.
Cincinnati-based Kroger and Boise, Idaho-based Albertsons on Oct. 14 announced their agreement to combine the nation’s two largest operators of traditional supermarkets. Kroger is the largest; it is also the second-largest retailer by grocery market share, behind only Walmart. Albertsons ranks fourth in grocery market share, with warehouse membership store chain Costco placing third.
The combination would make Kroger, owner of the Matthews-based Harris Teeter banner, a truly national chain with nearly 5,000 stores in 48 states and Washington, D.C.
Currently, Kroger has 2,726 stores in 35 states and the District of Columbia, while Albertsons operates 2,273 stores in 34 states. Kroger and Albertsons combine for more than 40% of the market share in some areas.
Read more here.
(WATCH BELOW: Harris Teeter pulls controversial koozies from store shelves)
©2022 Cox Media Group
/cloudfront-us-east-1.images.arcpublishing.com/cmg/LH3JSJEF3VBLRJLJQESEAG34AM.png)
