The deal will create a grocery giant. In North Texas, Albertsons operates Tom Thumb and Market Street grocery stores.
10:22 AM on Oct 13, 2022 CDT — Updated at 6:53 AM on Oct 14, 2022 CDT
Kroger chairman and CEO Rodney McMullen will continue serving as chairman and CEO of the combined company. The companies have already been working with regulatory attorneys, Kroger said during a conference call. To comply with antitrust concerns it expects either sell or spinoff 100 to 375 stores into a separate company that would go to Albertsons shareholders. The purchase price would be reduced to reflect the spinoff.In Dallas-Fort Worth, Albertsons is best known as the operator of Tom Thumb grocery stores and also operates its namesake stores.
Together their local market share is 28% and higher than Walmart, which has been No. 1 in the market for several years withSam’s Club, which is owned by Walmart, has a 7.24% local market share. Kroger is the only Dallas area grocer with employees represented by a union and Kroger addressed labor in its press release this morning.
“Albertsons Cos. brings a complementary footprint and operates in several parts of the country with very few or no Kroger stores,” McMullen said.
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