Grocery Tycoon With $21 Billion Fortune Caught in FTC’s Crosshairs
- Rick Cohen’s C&S to buy 413 stores if Kroger merger approved
- Regulators have sued to block Kroger’s deal with Albertsons
This article is for subscribers only.
Seeking to blunt criticism that their nearly $25 billion merger to create a grocery behemoth would stifle competition, Kroger Co. and Albertsons Cos. agreed to sell some of their stores to a little-known wholesaler.
C&S Wholesale Grocers would buy 413 supermarkets in 17 states for $1.9 billion, creating what Kroger Chief Executive Officer Rodney McMullen called a “fierce competitor” and ensuring no stores would close as a result of the merger.