The grocery chains said in October that they would spin off 100 to 375 stores if they couldn’t find buyers for them.
indicated the transition would include 400 stores in a deal worth about $2 billion. Most of the stores to be shed are in the Pacific Northwest and Mountain states, Reuters reported, with “some” in California.
SoftBank, the Japanese tech investing giant, is active in the supply chain sector via investments including Symbotic Inc., which is run by Rick Cohen, who is also the executive chairman of C&S.Representatives for C&S, Kroger and SoftBank declined to comment. Representatives for Albertsons didn’t immediately comment.
The Kroger-Albertsons deal, which the companies aim to close in early 2024, would combine two of the leading grocery chains in the US into a retail giant with nearly 5,000 stores — large enough to take on leading grocer Walmart Inc.
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