Kroger may not sweep up hundreds of Rite Aid stores after all, according to recent reports, as the retailer looks to continue its trek for growth.
Sources close to the situation told the New York Post that the FTC vetoed the 650 store operations being moved into Kroger’s existing grocery stores, closing stand-alone locations, should they be acquired, which could affect its decision to buy.
“The FTC is trying to preserve the stand-alone stores,” an anonymous source said, according to the New York Post. “But Kroger might want to integrate. What happens to Rite Aids it buys that are near Krogers?”
Kroger did not comment to the news source on whether or not it would move forward, but it met with several hedge funds last week to report that it is currently figuring out its “special sauce” in expanding.
As we’ve previously reported, Kroger was said to be in moves to acquire the stores as Walgreens originally looked to sell as many as 1,000 Rite Aid shops in order to acquire the chain. More recently that number has narrowed down to 650 stores as the two look to seal a $17 billion deal, but Kroger’s, or another shopper’s, purchase of the remaining locations could be key to the FTC’s approval.
For now, we will continue to report on this and other key moves for growth as details emerge.