Latest news with #C&SWholesale
USA Today
5 days ago
- Business
- USA Today
Kroger settles with C&S Wholesale after failed $25 billion Albertsons merger
Kroger announced Aug. 11 that it has settled litigation with C&S Wholesale Grocers, which sued the Cincinnati-based supermarket giant in the wake of a failed $25 billion merger with Albertsons. The Keene, New Hampshire-based supplier and retailer was set to acquire nearly 600 divested stores from Kroger and Albertsons upon completion of the deal. C&S Wholesale claimed Kroger owed it a $125 million termination fee in the event the merger was called off. Kroger said all claims were resolved. Terms of the settlement were confidential. 'We are pleased to resolve the claims from C&S, and we look forward to a friendly relationship with them going forward,' said Interim CEO Ron Sargent, in a statement. Would-be acquirer of stores was part of merger's failure C&S Wholesale was seen as part of the reason for the merger's failure. While the company supplies thousands of grocery stores nationwide, its retail operations were modest: a couple dozen stores. In the successful antitrust cases against the merger, regulators argued C&S Wholesale would not be a strong enough competitor to a super-sized Kroger. C&S Wholesale executives also faced several awkward questions during antitrust hearings when it was revealed they had mocked their own company's retail investments. Litigation against Kroger in the aftermath of the abandoned merger is not over: The Boise, Idaho-based retailer announced it was also suing Kroger the same day it pulled out of the deal for allegedly botching regulatory approval. Albertsons' lawsuit is also seeking to collect a breakup fee worth $600 million. Details of Kroger CEO's abrupt exit sought in two lawsuits In that case, Albertsons is seeking the reason that Kroger's long-serving CEO Rodney McMullen resigned in March following an ethics investigation. Kroger has offered few details of McMullen's exit, saying only that "certain personal conduct" by McMullen was 'inconsistent' with its ethics policy. Albertsons argues that Kroger's ethical conduct, while McMullen was at the helm, is relevant to how it pursued its efforts to win merger approval. McMullen's departure has also come up in another lawsuit against Kroger. Grammy-nominated singer Jewel has sued the grocer for allegedly cutting her out of the Kroger Wellness Festival, which she helped organize in its early years. In that case, a judge has ordered McMullen to explain the details of his resignation, which may later be revealed in court records.
Wall Street Journal
23-06-2025
- Business
- Wall Street Journal
SpartanNash to Be Acquired by C&S Wholesale Grocers
SpartanNash SPTN -1.78%decrease; red down pointing triangle agreed to be acquired by C&S Wholesale Grocers in a deal valued around $1.77 billion, including debt. C&S Wholesale will pay $26.90 a share in cash to acquire the food solutions company. The purchase price represents a nearly 53% premium over SpartanNash's closing price on Friday of $17.64, and a premium of 42% to its 30-day volume-weighted average stock price as of Friday, according to the companies.
Yahoo
23-06-2025
- Business
- Yahoo
C&S Wholesale Grocers to buy SpartanNash in $1.77 billion deal
(Reuters) -C&S Wholesale Grocers on Monday agreed to buy food distributor SpartanNash for $1.77 billion, including debt, the companies said. Sign in to access your portfolio
Yahoo
31-05-2025
- Business
- Yahoo
C&S ventures into international supply chain market with new partnership
This story was originally published on Grocery Dive. To receive daily news and insights, subscribe to our free daily Grocery Dive newsletter. C&S Wholesale Grocers announced Wednesday it is partnering with Atlantic Grocery Supply (AGS) to provide wholesale and supply offerings to retailers in the Caribbean and Central and South America. This tie-up allows C&S to tap into AGS parent company Sun Group's 'deep history' supplying retailers in the Southeast and the Caribbean. For AGS, the partnership will let it provide its supply export customers with competitive pricing and a grocery assortment of more than 40,000 items, according to the press release. The partnership will operate out of C&S's 1-million-square-foot warehouse in Miami. C&S and AGS will work together on sales to in-state independent retail customers while AGS will take the lead on sales to export customers, per the announcement. Working with C&S will enable Sun Group to continue expanding its international grocery operations. Sun Group is one of the U.S.'s largest wholesale produce distributors with locations throughout the Southeast. This announcement comes as C&S remains in the spotlight following the downfall of the proposed Kroger-Albertsons merger. The distributor was set to acquire hundreds of stores from the two grocery companies if their merger had received regulatory approval. In March, C&S sued Kroger, alleging that the grocer has not yet paid the wholesaler the $125 million termination fee owed for the failed merger efforts. Weeks later, Kroger claimed in a legal filing that C&S is not entitled to the termination fee because the company breached its contract with Kroger when it was trying to seek regulatory approval for its merger with Albertsons. Aside from the ongoing legal battle drama, C&S has also laid off a number of workers. Earlier this month, the wholesaler announced plans to shutter its Baldwin, Florida, distribution center, costing around 490 employees their jobs. C&S also laid off at least 76 workers in mid-March, impacting employees at sites in Hawaii, Vermont, New Jersey, Texas and New York. Recommended Reading C&S to shutter Florida distribution center, costing 500 jobs Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
