Update (11:36 a.m.)
In a statement provided to MyHighPlains.com by an Albertsons Companies Spokesperson, they said:
“Nothing changes about our stores today, and our focus continues to be providing great service to our customers. The merger isn’t expected to close for many months. Until then, Albertsons and Kroger will continue to operate as two separate companies and it is business as usual.”Albertsons Companies Spokesperson
CINCINNATI, Ohio and BOISE, Idaho (KAMR/KCIT) — Officials with Kroger and Albertsons Companies, Inc. announced Friday that the two companies have entered into a “definitive agreement” where the two companies will merge. The United Family, a chain of supermarkets located in Amarillo and the surrounding area, is under the Albertsons Companies, Inc. umbrella.
According to a joint news release from the companies, the merger agreement has been unanimously approved by the board of directors for each company. Officials said Kroger will acquire all the outstanding shares of Albertsons Companies, Inc. “common and preferred stock” for around $34.10 per share, which will be an estimated value of around $24.6 billion.
“We are bringing together two purpose-driven organizations to deliver superior value to customers, associates, communities and shareholders,” Rodney McMullen, Kroger’s chairman and chief executive officer, who will continue serving as chairman and CEO of the combined company. “Albertsons Cos. brings a complementary footprint and operates in several parts of the country with very few or no Kroger stores. This merger advances our commitment to build a more equitable and sustainable food system by expanding our footprint into new geographies to serve more of America with fresh and affordable food and accelerates our position as a more compelling alternative to larger and non-union competitors.”
According to the release, Albertsons Cos. and Kroger employ more than 710,000 associates and operate around 4,996 stores, 66 distribution centers, 52 manufacturing plants, 3,972 pharmacies and 2,015 fuel centers.
“We have been on a transformational journey to evolve Albertsons Cos. into a modern and efficient omnichannel food and drug retailer focused on building deep and lasting relationships with our customers and communities,” Vivek Sankaran, CEO of Albertsons Cos, said in the release. I am proud of what our 290,000 associates have accomplished, delivering top-tier performance while furthering our purpose to bring people together around the joys of food and to inspire well-being. Today’s announcement is a testament to their success.”
MyHighPlains.com reached out to officials from the United Family for comment and they referred us to Albertsons for comment regarding this merger. This story will be updated if officials from Albertsons respond to the request for comment.
This is a developing story. MyHighPlains.com will update this article as new information becomes available.
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