THAT BREAKING NEWS – KROGER IS MOVING TO BUY ANOTHER MAJOR GROCERY CHAIN. THE COMPANY JUST ANNOUNCED IT HAS REACHED AN AGREEMENT TO ACQUIRE GIANT EAGLE. THE 1-POINT-65 BILLION DOLLAR DEAL WILL BE ALMOST ALL IN CASH. KROGER WOULD TAKE OVER THE GIANT EAGLE BRAND – WHICH IS THE MAIN GROCERY STORE SERVING COMMUNITIES INCLUDING PITTSBURGH … AND PARTS OF WEST VIRGINIA, MARYLAND AND INDIANA. THE MOVE COMES AFTER A FAILED ATTEMPT AT A MERGER WITH THE “ALBERTSON’S” GROCERY CHAIN… AND JUST MONTHS AFTER KROGER LAID OFF NEARLY A THOUSAND EMPLOYEES … AND ANNOUNCED THE PLANNED CLOSURE OF DOZENS OF STORES. THE DEAL STILL NEEDS APPROVAL FROM FEDERAL REGULATORS – BUT KROGER EXPECTS IT TO CLOSE BY NEXT YEAR.
Kroger purchasing Pittsburgh-based grocer and pharmacy in deal worth more than $1.6 billion
Updated: 8:41 AM EDT Jul 1, 2026
Kroger has announced an agreement to acquire Pittsburgh-based Giant Eagle in a deal worth more than $1.60 billion.In a press release on Wednesday, the grocery chain says the purchase price of $1.65 billion is comprised of $1.25 billion in cash consideration and the assumption of about $400 million in outstanding liabilities.The transaction was approved unanimously by Kroger’s Board of Directors.”Giant Eagle is a well-run, high-quality regional grocer with a strong reputation for fresh products, pharmacy, private label and customer loyalty,” said Greg Foran, Chief Executive Officer at Kroger, in a press release announcing the merger. “We evaluated the opportunity carefully, and the strategic fit is clear. 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.”Tuesday’s announcement comes just over a year after Kroger announced plans to close dozens of stores over an 18-month period, and 11 months after the company announced nearly 1,000 job cuts, which included about 200 local jobs.A family-owned food and pharmacy retailer, Giant Eagle sees about $9 billion in annual sales across 197 supermarkets across northern Ohio, western Pennsylvania, West Virginia Maryland and Indiana.”Today’s announcement marks an exciting next chapter for our Team Members, customers, vendors and community partners,” said Bill Artman, Chief Executive Officer at Giant Eagle, in a press release. “Together with Kroger, we will be well-positioned to advance our strategy and deliver better quality and service, better everyday value, and a better shopping experience for our customers, while providing greater growth opportunities for our dedicated Team Members.”According to the grocer, Kroger will finance the transaction with cash, with the company expecting to maintain its net total debt to adjusted EBITDA ratio target range of 2.3-2.5x.Kroger says that, as part of its commitment to shareholder returns, the company expects to maintain its dividend, subject to board approval, continue its previously announced $2 billion share repurchase program, and “preserve financial flexibility,” to invest in other strategic priorities and core business.In 2022, Kroger and Albertsons proposed a merger in what would have been the largest supermarket merger in United States history, valued at $25 billion. But, in late 2024 a federal judge temporarily blocked the proposed merger. The next day, Albertsons filed a lawsuit against Kroger, claiming the grocer failed to exercise “best efforts” and to take “any and all actions” to secure regulatory approval of the companies’ agreed merger transaction, as was required of Kroger under the terms of the merger agreement between the parties.In August 2025, Kroger announced the company had settled the suit.The transaction is expected to close in 2027.This is a developing story and will be updated.
CINCINNATI —
Kroger has announced an agreement to acquire Pittsburgh-based Giant Eagle in a deal worth more than $1.60 billion.
In a press release on Wednesday, the grocery chain says the purchase price of $1.65 billion is comprised of $1.25 billion in cash consideration and the assumption of about $400 million in outstanding liabilities.
The transaction was approved unanimously by Kroger’s Board of Directors.
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Quite the time for @kroger
– Dec ’24 failed merger with Albertson’s
– June ’25 Around 1000 layoffs announced
– Aug ’25 Settles lawsuit with Albertson’s
– Aug ’25 Announced potential store closures
– Feb ’26 New CEO@WLWT https://t.co/V8lt15JC37
— Steven Albritton (@StevenAlbritton) July 1, 2026
“Giant Eagle is a well-run, high-quality regional grocer with a strong reputation for fresh products, pharmacy, private label and customer loyalty,” said Greg Foran, Chief Executive Officer at Kroger, in a press release announcing the merger. “We evaluated the opportunity carefully, and the strategic fit is clear. 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.”
Tuesday’s announcement comes just over a year after Kroger announced plans to close dozens of stores over an 18-month period, and 11 months after the company announced nearly 1,000 job cuts, which included about 200 local jobs.
A family-owned food and pharmacy retailer, Giant Eagle sees about $9 billion in annual sales across 197 supermarkets across northern Ohio, western Pennsylvania, West Virginia Maryland and Indiana.
“Today’s announcement marks an exciting next chapter for our Team Members, customers, vendors and community partners,” said Bill Artman, Chief Executive Officer at Giant Eagle, in a press release. “Together with Kroger, we will be well-positioned to advance our strategy and deliver better quality and service, better everyday value, and a better shopping experience for our customers, while providing greater growth opportunities for our dedicated Team Members.”
According to the grocer, Kroger will finance the transaction with cash, with the company expecting to maintain its net total debt to adjusted EBITDA ratio target range of 2.3-2.5x.
Kroger says that, as part of its commitment to shareholder returns, the company expects to maintain its dividend, subject to board approval, continue its previously announced $2 billion share repurchase program, and “preserve financial flexibility,” to invest in other strategic priorities and core business.
In 2022, Kroger and Albertsons proposed a merger in what would have been the largest supermarket merger in United States history, valued at $25 billion.
But, in late 2024 a federal judge temporarily blocked the proposed merger. The next day, Albertsons filed a lawsuit against Kroger, claiming the grocer failed to exercise “best efforts” and to take “any and all actions” to secure regulatory approval of the companies’ agreed merger transaction, as was required of Kroger under the terms of the merger agreement between the parties.
In August 2025, Kroger announced the company had settled the suit.
The transaction is expected to close in 2027.
This is a developing story and will be updated.