Kroger acquires regional grocer Giant Eagle in $1.65 billion deal
By
MICHELLE CHAPMAN and DEE-ANN DURBIN AP Business Writers
Summary
Kroger, the largest U.S. supermarket chain, has agreed to acquire privately held regional grocer and pharmacy retailer Giant Eagle in a deal valued at $1.65 billion. Giant Eagle operates 197 supermarkets and 11 standalone pharmacies across five states in the Midwest and Mid-Atlantic regions. The stores will continue operating under the Giant Eagle brand name. Kroger currently runs 2,685 stores across 35 states and Washington, D.C. under various banners including Ralphs, King Soopers, Smith's, and Fred Meyer.
Source
bskyKroger acquires regional grocer Giant Eagle in $1.65 billion deal1011now.comKey quotes
· 3 pulledKroger said Wednesday it plans to buy regional grocer and pharmacy retailer Giant Eagle in a deal valued at $1.65 billion.
Giant Eagle, which is privately held, has 197 supermarkets and 11 standalone pharmacies across northern Ohio, western Pennsylvania, West Virginia, Maryland and Indiana.
They would continue to operate under the Giant Eagle name under the terms of the deal.
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