Regional supermarket chain Giant Eagle has reportedly been acquired by the Kroger Company.
According to an announcement from Kroger, they have reached a definitive agreement to acquire the Pittsburgh-based regional supermarket chain for $1.65 billion. $1.25 billion is in cash consideration with approximately $400 million in outstanding liabilities. Craig Forain, CEO of Kroger, said that Giant Eagle will provide the company with strong growth into “attractive adjacent markets,” while being able to “Run outstanding stores, deliver fresh foods and convenient meal solutions at affordable prices, and take care of our customers and associates every single day.” The company also plans to bring Kroger’s Zero Hunger/Zero Waste program to enhance the already strong history of Giant Eagle’s Community Engagement.
Kroger officials have confirmed that Giant Eagle name will be retained and they do not expect any reductions in frontline jobs. The sale is expected to close in 2027.
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