The iconic Pittsburgh grocery chain Giant Eagle is reportedly being purchased by the Kroger Company.\u00a0<\/p>\n
In a news release from the Kroger Company, Kroger said they have a definitive agreement to acquire Giant Eagle.\u00a0<\/p>\n
According to the company, the price to acquire Giant Eagle is $1.65 billion.\u00a0<\/p>\n
“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. “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.” \u00a0<\/p>\n
Kroger said it plans to bring its “Kroger’s Zero Hunger | Zero Waste” impact plan to new communities.\u00a0<\/p>\n
“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. “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.”<\/p>\n
Kroger said that they are financing the transaction with cash. They also said that the transaction is expected to close in 2027.\u00a0<\/p>\n
It’s not known at this time if Giant Eagle stores will remain as Giant Eagle or be transitioned into Kroger.\u00a0<\/p>\n
This is a developing story; we will update it as more information becomes available.\u00a0<\/p>\n
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