Cincinnati, Ohio-based Kroger has announced a definitive agreement to acquire Boise, Idaho-based Albertsons Companies to merge two complementary grocery organizations with iconic brands and deep roots in their local communities to establish a national footprint and unite around Kroger's Purpose to Feed the Human Spirit.
Under the terms of the merger agreement, which has been unanimously approved by the board of directors of each company, Kroger will acquire all of the outstanding shares of Albertsons Companiesfor approximately $24.6 billion, including the assumption of approximately $4.7 billion of Albertsons net debt.
Like all mergers, there will be store closures and mass layoffs as the companies resolve duplicative functions and services.
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?