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Search resuls for: "Albertsons Cos"


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☆ Kroger-Albertsons Merger Would Create a Big Player in Retail Advertising
  + stars: | 2022-10-14 | by ( Patrick Coffee | ) www.wsj.com   time to read: +5 min
It also would create a big player in so-called retail media, one of advertising’s fastest-growing sectors. Kroger and Albertsons entered the retail advertising market in 2015 and 2021, respectively. Kroger and Albertsons don’t break out the ad revenue generated by their Kroger Precision Marketing and Albertsons Media Collective divisions. The merger of Kroger and Albertsons would create a fourth market leader at more than 13% market share, Mr. Lipsman said. For marketers, that would help simplify the retail ad market for consumer-goods brands and other advertisers who currently confront a rapidly increasing number of offerings.
☆ Kroger Pauses Buybacks to Prioritize Debt Reduction After Albertsons Deal Closes
  + stars: | 2022-10-14 | by ( Kristin Broughton | ) www.wsj.com   time to read: +4 min
The blockbuster transaction comes amid a slowdown in deal making, economic uncertainty and concerns among investors about companies that carry high levels of debt. Cincinnati-based Kroger said Friday that it will pay for the $24.6 billion deal with cash and proceeds from a new debt financing. The company secured a 364-day, $17.4 billion bridge loan from Citigroup Inc. and Wells Fargo & Co., it said in a securities filing. Kroger will temporarily pause buybacks with the goal of giving priority to debt reduction after the transaction closes, the company said Friday. The company on Friday didn’t say what its leverage ratio will be after the transaction closes.
☆ U.S. grocer Kroger carts away Albertsons for $25 bln but faces antitrust test
  + stars: | 2022-10-14 | by ( Aishwarya Venugopal Diane Bartz Abigail Summerville | Aishwarya Venugopal | Diane Bartz | ) www.reuters.com   time to read: +5 min
From a broader national perspective, a combined Kroger and Albertsons does not pose any major threat to the competitive dynamics of the market." Kroger said it expects to reinvest about half a billion dollars of cost savings from deal synergies to reduce prices for customers. "The merger will accelerate our position as a more compelling alternative to larger and non-union competitors," Kroger Chief Executive Officer Rodney McMullen said. Goldman Sachs and Credit Suisse were the financial advisors to Albertsons, while Citigroup and Wells Fargo advised Kroger. Kroger will have to pay Albertsons $600 million if the deal is terminated.
☆ Micro-Warehouse Provider Pivots as Retail Consumer Market Shifts
  + stars: | 2022-09-28 | by ( Liz Young | ) www.wsj.com   time to read: +4 min
Israel-based robotics startup Get Fabric Ltd., which has placed so-called microfulfillment centers in New York City and Dallas, is focusing on selling its warehouse automation platform rather than building more specialized small distribution sites. Some companies leased vacant retail spaces for use as “dark stores” for fulfillment and delivery, while others opened smaller warehouses near population centers. The shift makes the niche logistics business the latest to see a business strategy that gained traction during the Covid-19 pandemic lose its momentum as consumers have resumed prepandemic buying habits. That has some retailers rethinking their heavy investments in online fulfillment. Takeoff Technologies Inc., a microfulfillment system provider, expanded its business in the past year, said co-founder and Chief Executive Max Pedró.
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