Albertsons Said to be In Talks to Buy Price Chopper
BOISE, ID - Albertsons looks to be on the move once again, this time eyeing grocery chain Price Chopper for upwards of $1 billion.
The retailer is in advanced talks to buy up the Schenectady, New York-based, 130+ store chain, according to Reuters.
Albertsons and Price Chopper declined to comment on the deal.
Sources close to the matter, who asked Reuters not to identify them because the matter is confidential, cautioned that it is still possible for the deal negotiations to fall through.
This would be the latest in a string of big moves for Albertsons over the last couple of years, which has grown to an entity of more than 2,200 supermarkets.
Most recently, the retailer was mentioned on a list of candidates to acquire hundreds of Rite Aids in Walgreen’s bid to appease the FTC for its own acquisition. Other strategic strikes include the notable $9.2 billion merger with Safeway, and ownership of brands like Vons, Jewel-Osco, Shaw's, Tom Thumb, and United Supermarkets.
Buying up Price Chopper as well, which has deep roots on the eastern seaboard going back to 1922 when it started as a wholesale grocery warehouse in New York. It now operates in not only its home state, but also Connecticut, Pennsylvania, Vermont, Massachusetts, and New Hampshire.
We will continue to follow this story as more details develop.
