{"success":true,"data":{"pressRelease":{"id":"77769","rtpr_id":"nPn7059Vwa","ticker":"KR","exchange":"NYSE","all_tickers":["KR"],"title":"Kroger Announces Agreement to Acquire Giant Eagle","author":"PR Newswire","published_at":"2026-07-01T11:00:01.250Z","article_body":"Kroger Announces Agreement to Acquire Giant Eagle\n\nPR Newswire\n\nCINCINNATI and PITTSBURGH, July 1, 2026\n\nCINCINNATI and PITTSBURGH, July 1, 2026 /PRNewswire/ -- The Kroger Co. (NYSE:\nKR) and Giant Eagle, Inc. (\"Giant Eagle\") today announced a definitive\nagreement under which Kroger will acquire Giant Eagle, a leading family-owned\nfood and pharmacy retailer with approximately $9 billion in annual sales and\n197 supermarkets and 11 standalone pharmacies across northern Ohio, western\nPennsylvania, West Virginia, Maryland and Indiana. The transaction has been\nunanimously approved by Kroger's Board of Directors.\n\nWith a purchase price of $1.65 billion, comprised of $1.25 billion in cash\nconsideration and the assumption of approximately $400 million in outstanding\nliabilities, this transaction is consistent with Kroger's disciplined approach\nto capital allocation and its focus on acquisitions where the company can\ncreate clear value for customers, associates and shareholders.\n\nA strong strategic fit\n\"Giant Eagle is a well-run, high-quality regional grocer with a strong\nreputation for fresh products, pharmacy, private label and customer loyalty,\"\nsaid Greg Foran, Chief Executive Officer at Kroger. \"We evaluated the\nopportunity carefully, and the strategic fit is clear. Giant Eagle expands our\nreach into attractive adjacent markets, allowing us to do what we do best: Run\noutstanding stores, deliver fresh foods and convenient meal solutions at\naffordable prices, and take care of our customers and associates every single\nday.\"\n\nGiant Eagle's established store base, loyalty program, pharmacy business and\nprivate label portfolio provide a strong foundation for growth. Together with\nKroger's eCommerce solutions, data and personalization capabilities and\noperating discipline, we see significant opportunity to accelerate growth both\nin-store and online, enhance the customer experience and create long-term\nvalue for shareholders.\n\nThe companies plan to build on Giant Eagle's long history of community\nengagement by bringing Kroger's Zero Hunger | Zero Waste impact plan to new\ncommunities.\n\n\"Today's announcement marks an exciting next chapter for our Team Members,\ncustomers, vendors and community partners,\" said Bill Artman, Chief Executive\nOfficer at Giant Eagle. \"Together with Kroger, we will be well-positioned to\nadvance our strategy and deliver better quality and service, better everyday\nvalue, and a better shopping experience for our customers, while providing\ngreater growth opportunities for our dedicated Team Members.\"\n\nFinancial impact\nKroger will finance the transaction with cash. Following the close of the\ntransaction, the company expects to maintain its net total debt to adjusted\nEBITDA ratio target range of 2.3 – 2.5x. As part of Kroger's commitment to\nshareholder returns, the company expects to maintain its dividend, subject to\nboard approval, continue its previously announced $2 billion share repurchase\nprogram, and preserve financial flexibility to invest in its strategic\npriorities and core business.\n\nKroger expects the transaction to be accretive to adjusted EPS per diluted\nshare in the second full year after close, excluding one-time transaction and\nintegration costs.\n\nRegulatory process\nIn connection with obtaining the requisite regulatory clearance necessary to\nconsummate the transaction, Kroger and Giant Eagle expect to make limited\nGiant Eagle store divestitures.\n\nThe transaction is expected to close in 2027, subject to receipt of required\nregulatory clearance and other customary closing conditions.\n\nAdvisors\nRBC Capital Markets is serving as exclusive financial advisor, and Jones Day\nis serving as legal counsel to Kroger.\n\nWells Fargo is serving as exclusive financial advisor to Giant Eagle.\nWilmerHale is serving as the primary legal advisor and Troutman Pepper Locke\nis serving as local counsel on Giant Eagle's behalf.\n\nAbout Kroger\nAt The Kroger Co. (NYSE: KR), we are, across our family of companies more than\n400,000 associates who serve over 11 million customers daily through an\neCommerce and store experience under a variety of banner names, serving\nAmerica through food inspiration and uplift, and creating #ZeroHungerZeroWaste\ncommunities. To learn more about us, visit our newsroom and investor relations\nsite.\n\nAbout Giant Eagle\nGiant Eagle, Inc., ranked among Forbes magazine's largest private\ncorporations, is one of the nation's largest food retailers and distributors.\nFounded in 1931, Giant Eagle, Inc. has grown to be a leading food and pharmacy\nretailer in the region, with more than 200 stores throughout western\nPennsylvania, north central Ohio, northern West Virginia, Maryland, and\nIndiana.\n\nThis press release contains certain statements that constitute\n\"forward-looking statements\" within the meaning of Section 21E of the\nSecurities Exchange Act of 1934, as amended, about the proposed acquisition of\nGiant Eagle and the future performance of the company. These statements are\nbased on management's assumptions and beliefs in light of the information\ncurrently available to it. Such statements are indicated by words or phrases\nsuch as \"achieve,\" \"committed,\" \"continue,\" \"drive,\" \"expect,\" \"focused,\"\n\"future,\" \"guidance,\" \"may,\" \"model,\" \"opportunities,\" \"strategy,\" \"target,\"\n\"trends,\" and variations of such words and similar phrases. Various\nuncertainties and other factors could cause actual results to differ\nmaterially from those contained in the forward-looking statements. These\ninclude the specific risk factors identified in \"Risk Factors\" in our annual\nreport on Form 10-K for our last fiscal year and any subsequent filings, as\nwell as our ability to successfully complete the acquisition of Giant Eagle;\nand our ability to successfully integrate Giant Eagle into our business and\nrisks inherent with the Giant Eagle acquisition in the achievement of expected\nresults, including whether the acquisition will be accretive and within the\nexpected timeframe.\n\nKroger assumes no obligation to update the information contained herein unless\nrequired by applicable law. Please refer to Kroger's reports and filings with\nthe Securities and Exchange Commission for a further discussion of these risks\nand uncertainties.\n\n \n\nView original content to download\nmultimedia:https://www.prnewswire.com/news-releases/kroger-announces-agreement-to-acquire-giant-eagle-302815747.html\n(https://www.prnewswire.com/news-releases/kroger-announces-agreement-to-acquire-giant-eagle-302815747.html)\n\nSOURCE The Kroger Co.\n\n\n\nKroger Contacts: Media: Erin Rolfes (513) 762-1080; Investors: Rob Quast (513) 762-4969; Giant Eagle Contacts: media.relations@gianteagle.com\n\nPhoto: \nhttps://mmx.prnewswire.com/media/MS542108/Kroger-Co-Logo.jpg?id=OA2746700\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved.","article_body_html":"","raw_payload":{"data":{"id":"nPn7059Vwa","title":"Kroger Announces Agreement to Acquire Giant Eagle","author":"PR Newswire","ticker":"KR","created":"2026-07-01T11:00:01.250Z","tickers":["KR"],"exchange":"NYSE","article_body":"Kroger Announces Agreement to Acquire Giant Eagle\n\nPR Newswire\n\nCINCINNATI and PITTSBURGH, July 1, 2026\n\nCINCINNATI and PITTSBURGH, July 1, 2026 /PRNewswire/ -- The Kroger Co. (NYSE:\nKR) and Giant Eagle, Inc. (\"Giant Eagle\") today announced a definitive\nagreement under which Kroger will acquire Giant Eagle, a leading family-owned\nfood and pharmacy retailer with approximately $9 billion in annual sales and\n197 supermarkets and 11 standalone pharmacies across northern Ohio, western\nPennsylvania, West Virginia, Maryland and Indiana. The transaction has been\nunanimously approved by Kroger's Board of Directors.\n\nWith a purchase price of $1.65 billion, comprised of $1.25 billion in cash\nconsideration and the assumption of approximately $400 million in outstanding\nliabilities, this transaction is consistent with Kroger's disciplined approach\nto capital allocation and its focus on acquisitions where the company can\ncreate clear value for customers, associates and shareholders.\n\nA strong strategic fit\n\"Giant Eagle is a well-run, high-quality regional grocer with a strong\nreputation for fresh products, pharmacy, private label and customer loyalty,\"\nsaid Greg Foran, Chief Executive Officer at Kroger. \"We evaluated the\nopportunity carefully, and the strategic fit is clear. Giant Eagle expands our\nreach into attractive adjacent markets, allowing us to do what we do best: Run\noutstanding stores, deliver fresh foods and convenient meal solutions at\naffordable prices, and take care of our customers and associates every single\nday.\"\n\nGiant Eagle's established store base, loyalty program, pharmacy business and\nprivate label portfolio provide a strong foundation for growth. Together with\nKroger's eCommerce solutions, data and personalization capabilities and\noperating discipline, we see significant opportunity to accelerate growth both\nin-store and online, enhance the customer experience and create long-term\nvalue for shareholders.\n\nThe companies plan to build on Giant Eagle's long history of community\nengagement by bringing Kroger's Zero Hunger | Zero Waste impact plan to new\ncommunities.\n\n\"Today's announcement marks an exciting next chapter for our Team Members,\ncustomers, vendors and community partners,\" said Bill Artman, Chief Executive\nOfficer at Giant Eagle. \"Together with Kroger, we will be well-positioned to\nadvance our strategy and deliver better quality and service, better everyday\nvalue, and a better shopping experience for our customers, while providing\ngreater growth opportunities for our dedicated Team Members.\"\n\nFinancial impact\nKroger will finance the transaction with cash. Following the close of the\ntransaction, the company expects to maintain its net total debt to adjusted\nEBITDA ratio target range of 2.3 – 2.5x. As part of Kroger's commitment to\nshareholder returns, the company expects to maintain its dividend, subject to\nboard approval, continue its previously announced $2 billion share repurchase\nprogram, and preserve financial flexibility to invest in its strategic\npriorities and core business.\n\nKroger expects the transaction to be accretive to adjusted EPS per diluted\nshare in the second full year after close, excluding one-time transaction and\nintegration costs.\n\nRegulatory process\nIn connection with obtaining the requisite regulatory clearance necessary to\nconsummate the transaction, Kroger and Giant Eagle expect to make limited\nGiant Eagle store divestitures.\n\nThe transaction is expected to close in 2027, subject to receipt of required\nregulatory clearance and other customary closing conditions.\n\nAdvisors\nRBC Capital Markets is serving as exclusive financial advisor, and Jones Day\nis serving as legal counsel to Kroger.\n\nWells Fargo is serving as exclusive financial advisor to Giant Eagle.\nWilmerHale is serving as the primary legal advisor and Troutman Pepper Locke\nis serving as local counsel on Giant Eagle's behalf.\n\nAbout Kroger\nAt The Kroger Co. (NYSE: KR), we are, across our family of companies more than\n400,000 associates who serve over 11 million customers daily through an\neCommerce and store experience under a variety of banner names, serving\nAmerica through food inspiration and uplift, and creating #ZeroHungerZeroWaste\ncommunities. To learn more about us, visit our newsroom and investor relations\nsite.\n\nAbout Giant Eagle\nGiant Eagle, Inc., ranked among Forbes magazine's largest private\ncorporations, is one of the nation's largest food retailers and distributors.\nFounded in 1931, Giant Eagle, Inc. has grown to be a leading food and pharmacy\nretailer in the region, with more than 200 stores throughout western\nPennsylvania, north central Ohio, northern West Virginia, Maryland, and\nIndiana.\n\nThis press release contains certain statements that constitute\n\"forward-looking statements\" within the meaning of Section 21E of the\nSecurities Exchange Act of 1934, as amended, about the proposed acquisition of\nGiant Eagle and the future performance of the company. These statements are\nbased on management's assumptions and beliefs in light of the information\ncurrently available to it. Such statements are indicated by words or phrases\nsuch as \"achieve,\" \"committed,\" \"continue,\" \"drive,\" \"expect,\" \"focused,\"\n\"future,\" \"guidance,\" \"may,\" \"model,\" \"opportunities,\" \"strategy,\" \"target,\"\n\"trends,\" and variations of such words and similar phrases. Various\nuncertainties and other factors could cause actual results to differ\nmaterially from those contained in the forward-looking statements. These\ninclude the specific risk factors identified in \"Risk Factors\" in our annual\nreport on Form 10-K for our last fiscal year and any subsequent filings, as\nwell as our ability to successfully complete the acquisition of Giant Eagle;\nand our ability to successfully integrate Giant Eagle into our business and\nrisks inherent with the Giant Eagle acquisition in the achievement of expected\nresults, including whether the acquisition will be accretive and within the\nexpected timeframe.\n\nKroger assumes no obligation to update the information contained herein unless\nrequired by applicable law. Please refer to Kroger's reports and filings with\nthe Securities and Exchange Commission for a further discussion of these risks\nand uncertainties.\n\n \n\nView original content to download\nmultimedia:https://www.prnewswire.com/news-releases/kroger-announces-agreement-to-acquire-giant-eagle-302815747.html\n(https://www.prnewswire.com/news-releases/kroger-announces-agreement-to-acquire-giant-eagle-302815747.html)\n\nSOURCE The Kroger Co.\n\n\n\nKroger Contacts: Media: Erin Rolfes (513) 762-1080; Investors: Rob Quast (513) 762-4969; Giant Eagle Contacts: media.relations@gianteagle.com\n\nPhoto: \nhttps://mmx.prnewswire.com/media/MS542108/Kroger-Co-Logo.jpg?id=OA2746700\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved."},"type":"article","timestamp":"2026-07-01T11:00:02.152927575Z","server_sent_at_ms":1782903602152},"received_at":"2026-07-01T11:00:02.203Z","source_url":"https://www.prnewswire.com/news-releases/kroger-announces-agreement-to-acquire-giant-eagle-302815747.html"},"analysis":{"id":"67008","press_release_id":"77769","analysis_json":{"industry":{"label":"Consumer Staples Distribution & Retail","sector":"Consumer Staples"},"redFlags":["transaction subject to regulatory clearance requiring limited store divestitures","expected closing in 2027 indicates a long integration timeline"],"eventType":"m_and_a","narrative":"Kroger announced a definitive agreement to acquire regional grocer Giant Eagle for $1.65 billion, comprising $1.25 billion in cash and the assumption of $400 million in liabilities.\n\nGiant Eagle operates 197 supermarkets and generates approximately $9 billion in annual sales; Kroger expects the transaction to be accretive to adjusted EPS in the second full year after closing.\n\nThe company will finance the deal with cash while maintaining its net debt-to-EBITDA target of 2.3–2.5x, its dividend, and its existing $2 billion share repurchase program.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"Kroger expands regional footprint with $1.65B Giant Eagle acquisition, maintaining buyback and dividend."},"keyFigures":{"revenue":"$9 billion","dealValueUsd":"$1.65 billion","customDimensions":{"cash_consideration":"$1.25 billion","target_store_count":197,"liabilities_assumed":"$400 million","target_pharmacy_count":11,"existing_buyback_program":"$2 billion","net_debt_to_ebitda_target":"2.3 - 2.5x"}},"quotedText":"Giant Eagle is a well-run, high-quality regional grocer with a strong reputation for fresh products, pharmacy, private label and customer loyalty","namedEntities":{"people":[{"name":"Greg Foran","role":"Chief Executive Officer at Kroger"},{"name":"Bill Artman","role":"Chief Executive Officer at Giant Eagle"}],"products":["Zero Hunger | Zero Waste impact plan"],"companies":[{"name":"The Kroger Co.","ticker":"KR"},{"name":"Giant Eagle, Inc.","relationship":"target"},{"name":"RBC Capital Markets","relationship":"financial advisor to Kroger"},{"name":"Jones Day","relationship":"legal counsel to Kroger"},{"name":"Wells Fargo","relationship":"financial advisor to Giant Eagle"},{"name":"WilmerHale","relationship":"legal advisor to Giant Eagle"},{"name":"Troutman Pepper Locke","relationship":"local counsel to Giant Eagle"}],"dollarAmounts":[{"amount":"$1.65 billion","context":"purchase price"},{"amount":"$1.25 billion","context":"cash consideration"},{"amount":"$400 million","context":"outstanding liabilities to be assumed"},{"amount":"$9 billion","context":"Giant Eagle annual sales"},{"amount":"$2 billion","context":"share repurchase program"}]},"materialImpact":{"score":5,"reasoning":"Definitive agreement to acquire a regional competitor with $9 billion in annual sales for $1.65 billion. The deal is expected to be accretive to EPS and fits within Kroger's capital allocation strategy."},"tickerRelevance":{"others":[],"primary":"KR"},"globalImportance":45,"audienceRelevance":50,"eventTypeSecondary":[],"importanceComponents":{"dealSize":"$1.65B","tickerTier":"large-cap","eventGravity":"mid_cap_m_a","sectorWeight":"retail_staples"}},"event_type":"m_and_a","event_type_secondary":null,"sentiment":"bullish","material_impact_score":5,"narrative":"Kroger announced a definitive agreement to acquire regional grocer Giant Eagle for $1.65 billion, comprising $1.25 billion in cash and the assumption of $400 million in liabilities.\n\nGiant Eagle operates 197 supermarkets and generates approximately $9 billion in annual sales; Kroger expects the transaction to be accretive to adjusted EPS in the second full year after closing.\n\nThe company will finance the deal with cash while maintaining its net debt-to-EBITDA target of 2.3–2.5x, its dividend, and its existing $2 billion share repurchase program.","key_figures":{"revenue":"$9 billion","dealValueUsd":"$1.65 billion","customDimensions":{"cash_consideration":"$1.25 billion","target_store_count":197,"liabilities_assumed":"$400 million","target_pharmacy_count":11,"existing_buyback_program":"$2 billion","net_debt_to_ebitda_target":"2.3 - 2.5x"}},"named_entities":{"people":[{"name":"Greg Foran","role":"Chief Executive Officer at Kroger"},{"name":"Bill Artman","role":"Chief Executive Officer at Giant Eagle"}],"products":["Zero Hunger | Zero Waste impact plan"],"companies":[{"name":"The Kroger Co.","ticker":"KR"},{"name":"Giant Eagle, Inc.","relationship":"target"},{"name":"RBC Capital Markets","relationship":"financial advisor to Kroger"},{"name":"Jones Day","relationship":"legal counsel to Kroger"},{"name":"Wells Fargo","relationship":"financial advisor to Giant Eagle"},{"name":"WilmerHale","relationship":"legal advisor to Giant Eagle"},{"name":"Troutman Pepper Locke","relationship":"local counsel to Giant Eagle"}],"dollarAmounts":[{"amount":"$1.65 billion","context":"purchase price"},{"amount":"$1.25 billion","context":"cash consideration"},{"amount":"$400 million","context":"outstanding liabilities to be assumed"},{"amount":"$9 billion","context":"Giant Eagle annual sales"},{"amount":"$2 billion","context":"share repurchase program"}]},"model_name":"qwen3_6_27b_awq","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-07-01T12:03:20.172Z","global_importance":45,"audience_relevance":50,"importance_components":{"dealSize":"$1.65B","tickerTier":"large-cap","eventGravity":"mid_cap_m_a","sectorWeight":"retail_staples"}},"durationMs":null,"modelName":"george-droid-qwen-72b"}}