C&S a big winner in Kroger-Albertsons merger
C&S a big winner in Kroger-Albertsons merger
C&S Wholesale Grocers entered into a definitive agreement to purchase 413 stores, eight distribution centers and two offices that have become available due to The Kroger Co. and Albertsons Cos. Inc. merger; the agreement is set to close in early 2024.
C&S will acquire QFC, Mariano’s and Carrs brand names and the exclusive licensing rights to the Albertsons brand name in Arizona, California, Colorado and Wyoming. C&S will also add five private labels to its current brand portfolio. 1918 Winter Street Partners, an affiliate of C&S Wholesale Grocers, will operate these stores.
“With more than 104 years in the rapidly changing grocery industry, the foundation of C&S’s success has been our ability to innovate. Our fast-paced industry challenges us to continue to think differently about our business model and how we meet the needs of our consumers, employees and communities — now and for generations to come,” said Rick Cohen, executive chairman of C&S Wholesale Grocers.
"Following the announcement of our proposed merger with Albertsons Cos., we embarked on a robust and thoughtful process to identify a well-capitalized buyer who will operate as a fierce competitor and ensure divested stores and their associates will continue serving their communities in the ways they do today. C&S achieves all these objectives," said Rodney McMullen, chairman and CEO of The Kroger Co. "C&S is led by an experienced management team with an extensive background in food retail and distribution and has the financial strength to continue investing in associates and the business for the long run."
C&S will continue to recognize the union workforce and maintain all collective bargaining agreements, and is committed to retaining frontline employees and further investing for growth.
“This is another exciting opportunity for C&S to expand into the retail market, which is an important component of our long-term growth. We have a strong foundation of retail experience with our Piggly Wiggly franchise and corporate-owned stores in the Midwest and Carolinas and the reopening of our iconic Grand Union — totaling more than 160 retail locations — all of which demonstrate C&S’s ability to deliver solid retail performance,” said Eric Winn, chief operating officer and designated CEO (effective Oct. 2) of C&S Wholesale Grocers. “This will also further enhance C&S’s ability to serve our customers as we will be in a unique position as a leading wholesale supplier and retailer to help grow their business and continue our legacy of braggingly happy customers.”