Could Albertsons be looking to buy up the Price Chopper chain for $1 billion? Sources close to the matter say yes, according to a recent Reuters report.
The sources, who asked Reuters not to identify them because the matter is confidential, confirmed that the two parties are in talks of an acquisition, but cautioned that negotiations could still fall through. If the two parties were to move forward, however, Albertsons would be taking on more than 130 stores with the purchase of the Schenectady, New York-based chain.
Price Chopper comes with deep roots in the eastern seaboard, going back to 1922 when it started as a wholesale grocery warehouse in New York. It now operates not only in its home state, but Connecticut, Pennsylvania, Vermont, Massachusetts, and New Hampshire.
This would be the latest in a string of big moves for Albertsons in 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. Albertsons also owns Vons, Jewel-Osco, Shaw's, Tom Thumb, and United Supermarkets.
Albertsons and Price Chopper declined to comment on the deal to Reuters, but Deli Market News will continue to report on the story as it develops further.