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C&S Wholesale Grocers to acquire 413 stores, 8 distribution centers and 2 offices from Kroger and Albertsons for $1.9bn.

Announced

Transaction Tags

  • Infrastructure
  • Real Estate
  • Private
  • Friendly
  • United States
  • convenience stores
  • Food Retailers and Wholesalers
  • Acquisition
  • Majority
  • Domestic
  • Pending
  • Single Bidder

Synopsis

C&S Wholesale Grocers, a grocery store chain, agreed to acquire 413 stores, 8 distribution centers and 2 offices from Kroger, a retail company that operates supermarkets and multi-department stores, and Albertsons, a grocery store company, for $1.9bn. "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. 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," Eric Winn, C&S Wholesale Grocers COO and designated CEO.

Sources

Press Release

C&S Wholesale Grocers

Press Release

Kroger

Press Release

Albertsons

Transaction Value

£1,522m

Consideration Type

Cash

Capital Owned

+ Add

Capital bid for

100%

EV/Sales

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EV/EBITDA

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Share Price Premium

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Service Providers (12)Dealmakers
Sullivan & Cromwell

legal advisors

Sullivan & Cromwell

Centerview Partners

financial advisors

Centerview Partners

Weil Gotshal And Manges

legal advisors

Weil Gotshal And Manges

Citigroup

financial advisors

Citigroup

Wells Fargo Securities

financial advisors

Wells Fargo Securities

Arnold & Porter Kaye Scholer

legal advisors

Arnold & Porter Kaye Scholer

Joele Frank

pr advisors

Joele Frank

Goldman Sachs

financial advisors

Goldman Sachs

Credit Suisse

financial advisors

Credit Suisse

Jenner & Block

legal advisors

Jenner & Block

White & Case

legal advisors

White & Case

Debevoise & Plimpton

legal advisors

Debevoise & Plimpton

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