Kroger and Albertsons Advance Plans of Store Divestitures Amid Review of Acquisition Deal

Supermarket operators Kroger Co and Albertsons Companies Inc are advancing plans to sell between 250 and 300 stores they hope will alleviate U.S. antitrust concerns over their combination, according to people familiar with the matter.

The divestitures would come as the Federal Trade Commission (FTC), which is reviewing Kroger’s proposed $24.6 billion acquisition of Albertsons, is under pressure from some U.S. lawmakers and consumer advocacy groups to block it over concerns it could lead to grocery price hikes when inflation has already been raging.

The stores that Kroger and Albertsons may sell could be worth more than $1 billion, the sources said. They are located across all the regions where the two companies operate – for example, the Pacific Northwest, Southern California, Phoenix and Chicago.

Read the source article at money.usnews.com