Kroger has announced an agreement to acquire Pittsburgh-based Giant Eagle in a deal worth more than $1.60 billion. 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.
Details of the Acquisition
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.
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. The transaction is expected to close in 2027.
Original reporting: WLWT Cincinnati — read the source article.
