Kroger merger with Albertsons will include Shaw's markets in Maine
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Kroger has a made a $24.6 billion bid for Albertson, the parent company of Shaw's.
Kroger has announced a $24.6 billion definitive merger agreement with Albertsons Cos., the parent company of Shaw's.
Albertsons' shareholders are expected to receive total consideration valued at $34.10 per share. The deal includes the assumption of $4.7 billion of Albertsons net debt.
Shaw's operates 150 stores throughout New England, including 19 in Maine.
It is too early to tell how the Kroger and Albertsons merger will affect Shaw’s locations in Maine.
Two locations in Maine have closed this year. Shaw's closed a Scarborough location earlier this month. It was the second location to close this year. In January, Shaw's said it would close the Westbrook store.
Idaho-based Albertsons Cos. Inc. (NYSE: ACI), which has owned Shaw's since 2004, has a total of 2,250 stores nationwide. Its brands include Acme, Jewel-Osco, Save-A-Lot and Star Market, among others.
"Today's announcement marks the successful outcome of the Board-led review of strategic alternatives Albertsons Cos. announced in February," said Chan Galbato, co-chair of the Albertsons Cos. board and CEO of Cerberus Operations. "This transaction with Kroger provides substantial value to shareholders and exciting opportunities for associates to be part of a combined organization with the ability to better support the lives and health of millions of Americans."
Cincinnati-based Kroger (NYSE: KR) operates 2,700 stores in 35 states. Its revenue is $137.9 billion as of 2022.
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