The Ohio-based grocery chain Kroger announced plans Wednesday to purchase one of its competitors, Giant Eagle, for $1.65 billion. The Pennsylvania-based retailer has more than 200 locations stretching from Maryland to Indiana. The deal is expected to close next year and still needs federal approval to go forward.
In a press release Kroger CEO Greg Foran praised Giant Eagle as a “high-quality regional grocer” and touted its “fresh products, pharmacy, private label and customer loyalty.”
“We evaluated the opportunity carefully, and the strategic fit is clear,” he went on. “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.”…