Over 50 Albertsons stores in Colorado will be sold as part of $1.9 billion deal
Kroger and Albertsons look to offload 413 locations to C&S Wholesale Grocers to clear path for their proposed merger
Photo by RJ Sangosti/The Denver Post
Kroger and Albertsons confirmed on Friday this week’s reports that 413 stores will be sold to C&S Wholesale Grocers as part of a $1.9 billion deal.
The sale is meant to move the proposed $25 billion merger between Kroger and Albertsons, respective parent companies of King Soopers and Safeway, forward.
The deal with C&S includes 52 Albertsons stores in Colorado.
Before the deal with C&S closes, Kroger may, in connection with securing Federal Trade Commission and other governmental clearance for its merger with Albertsons, require C&S to buy up to an additional 237 stores in certain regions. If more stores are added to the agreement, C&S will pay Kroger an additional as-yet-to-be-determined financial amount.
No stores will shutter, all frontline employees will keep their jobs, existing collective bargaining agreements will be honored and associates will keep their health care, wages and pension benefits, according to Friday’s news release about the deal. The divested stores’ fuel centers and pharmacies will continue operations.
To read the full article and more from Megan Ulu-Lani Boyanton visit The Denver Post.
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