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The Latest Breaking News from Albertsons

Kroger-Albertsons mega-merger could cause more US food deserts, experts say

Agreement between two of the largest supermarket chains in the US could also make prices increase

The Guardian - US

California attorney general demands Albertsons delay $4 billion dividend ahead of possible Kroger merger

California Attorney General Rob Bonta and his peers in several other states demanded Wednesday that Albertsons Cos. delay paying a $4-billion dividend to investors until after the company's merger with rival supermarket chain Kroger Co. is reviewed by the Federal Trade Commission.

Los Angeles Times

A $4 billion payout: In Albertsons' sale, where is the grocery workers' cut?

If the Federal Trade Commission clears grocery giant Albertsons' $20 billion sale to Kroger on schedule next month, the private-equity investors who control this collection of U.S. grocery and drug store chains will have squeezed out profits nine times larger than what they invested since 2006.

The Philadelphia Inquirer

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Put Kroger and Albertsons merger plan under a Senate microscope

Given the escalating price of groceries and the amount of food insecurity locally and nationally, a Senate subcommittee should move ahead quickly with hearings on the merger plan.

Chicago Sun-Times

In Seattle, Kroger-Albertsons merger raises fears of closures, 'grocery deserts'

Nothing unsettles the average Seattleite quite like the thought of change at the local grocery store.

Tribune News Service

SpaceX Starlink's New In-Flight Connectivity Service, Amazon's NY Workers Reject Union, Celsius Network Faces Several Federal Investigations: Top Stories Wednesday, Oct. 19

Reuters US Lawmakers Plan Hearing On Kroger, Albertsons' $25B Merger

Benzinga

Michael Hiltzik: Think food inflation is bad now? Wait till Kroger and Albertsons merge

The gargantuan proposed $24.6-billion merger of supermarket behemoths Kroger and Albertsons is being touted by the merger partners as a boon to consumers.

Los Angeles Times

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By the numbers: The Kroger-Albertsons merger

Kroger announced plans to acquire Albertsons Companies Friday in a $24.6 billion deal that could reshape the grocery market across the country, where the two chains are among the biggest grocers.

Tribune News Service

Kroger, Albertsons forge $24.6 billion grocery giant combination

Kroger Co. agreed to buy Albertsons Cos. in a deal with an enterprise value of $24.6 billion that would create a U.S. grocery giant with almost 5,000 stores and annual revenue of about $200 billion.

Tribune News Service

Kroger is promising to lower prices after its proposed acquisition of Albertsons

Kroger says it'll lower prices if it's allowed to buy Albertsons, but consumer watchdogs are skeptical.

Axios

Biden Asked OPEC+ To Delay Output Decision, Elon Musk Faces Federal Probe Over Twitter Deal, Netflix Ad-Supported Plan: Top Stories Friday, Oct. 14

Reuters Twitter Says Elon Musk Under Federal Probe Over $44B Twitter Deal, In Court Filing

Benzinga

Kroger and Albertsons plan merger to combine 2 largest supermarket chains

The $25-billion deal is likely to draw intense scrutiny from federal regulators and critics as it would form a new supermarket colossus at a time of soaring food costs.

WEKU

Jewel, Mariano’s owners announce $20 billion merger

Kroger and Albertsons, two of the nation’s largest grocers, have agreed to merge in a deal that would help them better compete with Walmart, Amazon and others that have stepped into the grocery business.

Chicago Sun-Times

Kroger snaps up Albertsons in grocery megamerger

The deal for two of the nation's largest grocery chains is valued at $24.6 billion.

Axios

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Benzinga

Albertsons Companies, Domino's Pizza And Other Big Gainers From Thursday

U.S. stocks closed higher on Thursday, with the Dow Jones jumping over 800 points. Here is the list of some big stocks recording gains in the previous session.

StockNews.com

The 5 Best Value Stocks to Buy in August 2022

Though the inflation report on Wednesday geared investors’ spirits, inflation is hovering near a 40-year high. And with the Fed expected to continue with its aggressive rate hikes, it could be wise to invest in the value stocks Albertsons Companies (ACI), AutoNation (AN), Core Molding Technologies (CMT), Genie Energy (GNE),…

StockNews.com

3 No-Brainer Growth Stocks You Should Buy Without Hesitation

The stock market’s downturn due to persistent macroeconomic headwinds and a potential recession has created an excellent opportunity to buy fundamentally strong stocks at reasonable prices. While the market is expected to remain under pressure in the coming months, one could invest in quality growth stocks Albertsons Companies (ACI), Celestica…

StockNews.com

Should You Buy Grocery Stocks on the Dip?

Geopolitical and macroeconomic issues have caused the stock market under pressure in the last few months. Despite possessing an inelastic demand for their products, the broad-based market correction has led to a pullback in shares of grocery stocks. With looming recession fears, it could be wise to add these grocery…

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StockNews.com

3 Defensive Stocks to Consider Buying During the Market Downturn

The Fed’s aggressive interest rate increases to fight high inflation has raised concerns about a potential recession. During times of market turmoil, companies in defensive sectors will likely perform better than the broader market owing to inelastic demand for their products. Thus, we think it could be profitable now to…

StockNews.com

5 Consumer Staples Stocks to Protect Your Portfolio from Stagflation

Many experts believe that the Federal Reserve’s aggressive monetary policy to control surging inflation could push the economy into a recession. Since consumer staples companies weather recessionary pressure well because of inelastic demand for their products, we think it could be wise to bet on the stocks of fundamentally sound…

Benzinga

Albertsons, Uber Expand Partnership To 2,000+ Stores Nationwide

Albertsons Companies Inc (NYSE:ACI) and Uber Technologies Inc (NYSE:UBER) have expanded their partnership to include more than 2,000 of the grocer's banner stores nationwide through Uber Eats. Some of the banner stores included are Albertsons, Safeway, Jewel-Osco, ACME, Tom Thumb, and Randalls. The expansion will bring nearly 800 new locations to Uber Eats, including consumers…

Chicago Sun-Times

Tony’s Fresh Market sold to a private equity firm

The sale gives Apollo Global Management a deeper stake in the Chicago-area grocery market.

Los Angeles Times

‘Unified and militant’: Grocery workers get double-digit pay raises in new contract

LOS ANGELES — Whipsawed by the pandemic, spurred by fury over wage stagnation and alarmed by inflation, Southern California’s unionized grocery workers gained their biggest pay raises in decades Thursday as they ratified a new contract with the region’s largest food chains.

Los Angeles Times

'Unified and militant': Grocery workers get double-digit pay raises in new contract

LOS ANGELES — Whipsawed by the pandemic, spurred by fury over wage stagnation and alarmed by inflation, Southern California's unionized grocery workers gained their biggest pay raises in decades Thursday as they ratified a new contract with the region's largest food chains.

Los Angeles Times

'A big win': New contract gives grocery workers their biggest pay raises in decades

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