Kroger might reveal an offer to purchase competing grocery business Albertsons today, sources informed CNBC’s David Faber.
Shares of Albertsons leapt and were quickly stopped Thursday early morning after news that 2 business are deep in talks. The stock was up more than 11% in afternoon trading. Kroger increased decently.
The all-cash acquisition might be revealed as quickly as Friday early morning, sources informed Faber.
Kroger is the biggest grocery store operator in the nation with about 2 lots banners, consisting of Fred Meyer, Ralphs, King Soopers, Harris Teeter and its name brand name. It has almost 2,800 shops in 35 states and about 420,000 workers. The business tracks behind Walmart, which is the leading grocer in the U.S. by profits.
Albertsons is comprised of 20 banners, consisting of Safeway, Acme and TomThumb It has more than 2,200 grocery stores in 34 states and Washington, D.C. Albertsons has 290,000 workers, according to its site.
Kroger is the bigger of the 2 business, with a market cap of about $32 billion. Albertsons’ market cap has to do with $15 billion.
Kroger and Albertsons by the numbers
KROGER
- 2,800 shops in 35 states
- 420,000 workers
- 25 banners, consisting of Fred Meyer, Ralphs, King Soopers and name shops
ALBERTSONS
- 2,200 shops in 34 states and Washington, D.C.
- 290,000 workers
- 22 banners, consisting of Safeway, Acme, Tom Thumb and name shops
Source: Company sites, Factset
