Business & Tech
Jewel And Mariano's Parent Companies Announce $24.6 Billion Merger
Cincinnati-based Kroger will acquire Boise-based Albertson's.
By CBS Chicago Staff:
CHICAGO (CBS/AP) — Two grocery giants announced Friday morning they will become one. Kroger – which owns the Mariano's chain – and Albertson's – which owns Jewel – have agreed to a merger.
Under the terms of the deal unanimously approved by each company's board of directors, Cincinnati-based Kroger will acquire Boise-based Albertson's for approximately $24.6 billion, and will assume approximately $4.7 billion in Albertson's debt.
