Will Popular Illinois Grocery Disappear After 700 Stores Sold Nationwide?
There's news that a popular national grocery store with many locations in Illinois may no longer exist if a merger is completed.
Two National Grocery Stores are Merging
In the $25 Billion merger, the national grocery chain Kroger and Albertsons will have more than 700,000 employees and nearly 5,000 stores, according to USA Today.
Before the two companies can officially become one and to keep the Federal Trade Commission off their back, more than 400 grocery stores owned by Kroger and Albertsons will be sold to a private company that currently owns supermarkets including Piggy Wiggly's in Wisconsin.
The largest wholesale grocery supply company in the U.S. is C&S Wholesale and they plan to purchase the grocery stores that will give their operation a "much bigger footprint in the grocery store business," according to USA Today.
How Many Illinois Supermarkets Could Be Affected
Of the 400 stores that will become the ownership of C&S Wholesale, the most locations that are changing hands come from the state of Washington where 104 Alberstons / Kroger stores will be handed over.
SoftBank Group Corp, a Japanese investment group, is talking to C&S Wholesale about helping finance a small portion of the deal, Reuters reported. -USA Today
Kroger has not given details about which locations will change hands since the merger is still in the regulatory process but both Albertsons and Krogers said they will also sell off "eight distribution centers, two offices and five private-label brands as part of the transaction," according to USA Today.