Kroger has agreed to acquire Giant Eagle in a deal valued at $1.65 billion.
The agreement includes $1.25 billion in cash and about $400 million in assumed liabilities. Giant Eagle operates 197 supermarkets and 11 standalone pharmacies across Ohio, Pennsylvania, West Virginia, Maryland and Indiana.
Kroger says the acquisition would expand its presence in nearby markets and add Giant Eagle’s stores, pharmacies, private-label products and loyalty program to its business.
Giant Eagle CEO Bill Artman called the agreement a new chapter for the company’s employees, customers and communities.
The deal still needs regulatory approval and is expected to close sometime in 2027. The companies say a limited number of Giant Eagle stores may have to be sold as part of that review.
Until the transaction is completed, Kroger and Giant Eagle will continue operating as separate companies.
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