Kroger announces agreement to acquire Giant Eagle for $1.65 billion

Client(s) Kroger Co., The

Jones Day is advising The Kroger Co. in the $1.65 billion acquisition of Giant Eagle, Inc., a leading family-owned food and pharmacy 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.

The purchase price comprises $1.25 billion in cash consideration and the assumption of approximately $400 million in outstanding liabilities.

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 transaction is expected to close in 2027, subject to receipt of required regulatory clearance and other customary closing conditions.