WASHINGTON (dpa-AFX) - The Kroger Co. (KR) and Albertsons Companies (ACI)
have amended their definitive agreement with C&S Wholesale Grocers, LLC for the
sale of assets in connection with their proposed merger. The amended package
modifies and builds on the initial divestiture package that was announced on
September 8, 2023, and responds to concerns raised by federal and state
antitrust regulators. Kroger and Albertsons said they remain committed to
defending the merger in court.

The updated divestiture package increases the total store count by 166 to
include 579 stores that will be sold to, and continue operating as they do
currently by the new owner, C&S. Under the amended agreement, Kroger will sell
the Haggen banner to C&S. Also, C&S will license the Albertsons banner in
California and Wyoming and the Safeway banner in Arizona and Colorado. In these
states, Kroger will re-banner the retained Albertsons and Safeway bannered
stores. Kroger will maintain the Albertsons and Safeway banners in the remaining
states.

Rodney McMullen, Kroger's CEO, said: 'Importantly, the updated divestiture plan
continues to ensure no stores will close as a result of the merger and that all
frontline associates will remain employed, all existing collective bargaining
agreements will continue, and associates will continue to receive
industry-leading health care and pension benefits alongside bargained-for
wages.'



Copyright(c) 2024 RTTNews.com. All Rights Reserved

Copyright RTT News/dpa-AFX