Cincinnati, Ohio-based Kroger, one of the largest retail grocery chains in the US, has reached an agreement to purchase 17 supermarkets and two vacant parcels of land located primarily in the Houston area from Albertson’s Inc.
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Both companies expect to complete the transaction, which is subject to certain customary conditions and regulatory review, within 45 days. Financial terms were not disclosed.
Sixteen of the Albertson’s stores that Kroger has agreed to purchase are located in the Houston area, which ranks among the ten largest Metropolitan Statistical Areas (MSAs) in the US. One store is located in Sulphur, Louisiana. All of the stores will become part of Kroger’s Southwest Division, which currently operates 190 stores in Texas and Louisiana.
The 17 stores average approximately 60,000 square feet in size; all of the stores include pharmacies.
Bob Zincke, president of Kroger’s Southwest Division, commented: “We believe these stores will provide exciting growth opportunities for Kroger as we continue to expand our business in Houston.
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By GlobalData“We look forward to welcoming the associates of these Albertson’s stores to the Kroger family. We plan to meet with these associates as soon as possible to discuss career opportunities with Kroger.”
