Kroger and Albertsons agree to sell 413 stores to C&S for $1.9B; merger on track for early 2024

Albertsons Companies, Inc.

Divestiture includes 413 stores, 8 distribution centers, 2 offices, 5 private label brands across 17 states and DC.
C&S pays Kroger all-cash consideration of ~$1.9B; may purchase up to 237 additional stores for extra cash.
Sale includes QFC, Mariano's, Carrs banners and exclusive Albertsons brand license in AZ, CA, CO, WY.
Kroger exercises right to sell SpinCo business to C&S; spin-off no longer required under merger agreement.
Merger remains on track to close early 2024 subject to FTC and other regulatory clearance.

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