CINCINNATI (WJW) – Cincinnati-based grocery store chain Kroger Co. has announced it will buy Pittsburgh-based rival Giant Eagle in a $1.65 billion deal.
The deal is expected to be finalized in 2027, according to a news release issued Wednesday. Kroger will be shelling out $1.25 billion and assuming about $400 million in outstanding liabilities as part of the purchase agreement, the release says.
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“Giant Eagle is a well-run, high-quality regional grocer with a strong reputation for fresh products, pharmacy, private label and customer loyalty,” Kroger CEO Greg Foran is quoted as saying in the release. “Giant Eagle expands our reach into attractive adjacent markets, allowing us to do what we do best: Run outstanding stores, deliver fresh foods and convenient meal solutions at affordable prices, and take care of our customers and associates every single day.”
Giant Eagle operates 197 supermarkets and 11 standalone pharmacies across northern Ohio, western Pennsylvania, West Virginia, Maryland and Indiana…