Kroger acquires regional grocer Giant Eagle in $1.65 billion deal
By
Michelle Chapman
Summary
Kroger is acquiring 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. Kroger, which also owns Chicago-area Mariano's stores, has thousands of locations under various brands nationwide. The acquisition comes as Kroger continues consolidation efforts in the grocery sector.
Source
bskyKroger acquires regional grocer Giant Eagle in $1.65 billion dealchicagotribune.comKey quotes
· 3 pulledKroger is buying 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.
Last year, Mariano's closed three suburban Chicago grocery stores as part of a broader cost-cutting initiative by Kroger.
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