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Kroger (NYSE:KR) and Albertsons Companies (NYSE:ACI) have identified up to 300 stores to sell in a bid to please regulators, according to Reuters.
Citing people familiar with the matter, the outlet indicated that between 250 and 300 stores are due to be on the block as the grocery giants seek approval for their merger. The total value of the stores is reported to be around $1B.
The merger has also faced pushback from consumers as of late, with 25 shoppers filing a federal lawsuit against the chains to block the combination.
“Kroger’s plan to acquire rival Albertsons will combine the biggest and second biggest supermarket companies in the country by sales, thereby tending to create a monopoly,” the suit states. “The current trend toward concentration, the lessening of competition and the
tendency to create a monopoly in the grocery industry is unmatched and unparalleled.”
Read more on the merger’s recent legal challenges.
