Kroger will acquire Giant Eagle for $1.65 billion, which comprises $1.25 billion in cash consideration and the assumption of approximately $400 million in outstanding liabilities. Giant Eagle is a leading retailer with approximately $9 billion in annual sales and 197 supermarkets and 11 standalone pharmacies across northern Ohio, western Pennsylvania, West Virginia, Maryland and Indiana. 

In connection with obtaining the requisite regulatory clearance necessary to consummate the transaction, Kroger and Giant Eagle expect to make limited Giant Eagle store divestitures. The companies expect the transaction to close in 2027.

"Giant Eagle is a well-run, high-quality regional grocer with a strong reputation for fresh products, pharmacy, private label and customer loyalty," said Greg Foran, CEO of Kroger. "We evaluated the opportunity carefully, and the strategic fit is clear. Giant Eagle expands our reach into attractive adjacent markets, allowing us to do what we do best: Run outstanding stores, deliver fresh foods and convenient meal solutions at affordable prices, and take care of our customers and associates every single day."

Giant Eagle's established store base, loyalty program, pharmacy business and private label portfolio provide a strong foundation for growth. Together with Kroger's eCommerce solutions, data and personalization capabilities and operating discipline, Kroger sees significant opportunity to accelerate growth both in-store and online, enhance the customer experience and create long-term value for shareholders.

The companies plan to build on Giant Eagle's long history of community engagement by bringing Kroger's Zero Hunger | Zero Waste impact plan to new communities.

"Today's announcement marks an exciting next chapter for our team members, customers, vendors and community partners," said Bill Artman, CEO of Giant Eagle. "Together with Kroger, we will be well-positioned to advance our strategy and deliver better quality and service, better everyday value and a better shopping experience for our customers, while providing greater growth opportunities for our dedicated Team Members."