Kroger announced on Wednesday that it has reached an agreement to acquire food and pharmacy retailer Giant Eagle in a deal valued at $1.65 billion.
The acquisition will add approximately 200 stores to Kroger's retail footprint, specifically 197 stores and 11 standalone pharmacies. These locations are situated in states such as Pennsylvania and Ohio.
The transaction, which consists of $1.65 billion in cash and assumed liabilities, allows the company to expand its retail footprint as a regional grocer and pharmacy retailer.