US Supermarket No.2 Kroger Acquires No.4 Albertsons... '34 Trillion Won Deal'

[Asia Economy New York=Special Correspondent Joselgina] Kroger, the second-largest supermarket chain in the United States, announced on the 14th (local time) that it will acquire Albertsons, the fourth-largest chain.

According to economic media CNBC, Kroger agreed to acquire Albertsons' shares at $34.10 per share. This price significantly exceeds Albertsons' previous closing price of $28.63, totaling approximately $24.6 billion (about 35.4 trillion KRW).

The merged company will become the second-largest after Walmart. As of the end of June, Kroger holds a 9.9% share of the U.S. supermarket market, while Albertsons holds 5.7%. Currently, Kroger operates 2,800 stores across 35 U.S. states, and Albertsons operates over 2,200 stores in 34 states and Washington D.C.

This acquisition comes amid challenges in the U.S. supermarket industry, where soaring inflation has led consumers to reduce spending. The key issue going forward will be whether antitrust regulators approve the merger.

On the New York Stock Exchange that day, Albertsons closed at $26.21 per share, down 8.45% from the previous trading session.