Kroger Announces Agreement to Acquire Giant Eagle
July 1, 2026 | 3 min to read
CINCINNATI — The Kroger Co. and Giant Eagle, Inc. have announced a definitive agreement under which Kroger will acquire Giant Eagle.
Giant Eagle is a leading family-owned food and pharmacy retailer with approximately $9 billion in annual sales and 197 supermarkets and 11 standalone pharmacies across northern Ohio, western Pennsylvania, West Virginia, Maryland and Indiana.
The transaction has been unanimously approved by Kroger’s board of directors. The deal was announced July 1.
“Giant Eagle is a well-run, high-quality regional grocer with a strong reputation for fresh products, pharmacy, private label and customer loyalty,” said Greg Foran, Chief Executive Officer at Kroger. “We evaluated the opportunity carefully, and the strategic fit is clear. Giant Eagle expands our reach into attractive adjacent markets, allowing us to do what we do best: Run outstanding stores, deliver fresh foods and convenient meal solutions at affordable prices, and take care of our customers and associates every single day.”
With a purchase price of $1.65 billion, comprised of $1.25 billion in cash consideration and the assumption of approximately $400 million in outstanding liabilities, this transaction is consistent with Kroger’s disciplined approach to capital allocation and its focus on acquisitions where the company can create clear value for customers, associates and shareholders.
Giant Eagle’s established store base, loyalty program, pharmacy business and private label portfolio provide a strong foundation for growth. Together with Kroger’s eCommerce solutions, data and personalization capabilities and operating discipline, we see significant opportunity to accelerate growth both in-store and online, enhance the customer experience and create long-term value for shareholders.
The companies plan to build on Giant Eagle’s long history of community engagement by bringing Kroger’s Zero Hunger | Zero Waste impact plan to new communities.
“Today’s announcement marks an exciting next chapter for our Team Members, customers, vendors and community partners,” said Bill Artman, Chief Executive Officer at Giant Eagle. “Together with Kroger, we will be well-positioned to advance our strategy and deliver better quality and service, better everyday value, and a better shopping experience for our customers, while providing greater growth opportunities for our dedicated Team Members.”
Financial impact
Kroger will finance the transaction with cash. Following the close of the transaction, the company expects to maintain its net total debt to adjusted EBITDA ratio target range of 2.3 – 2.5x. As part of Kroger’s commitment to shareholder returns, the company expects to maintain its dividend, subject to board approval, continue its previously announced $2 billion share repurchase program, and preserve financial flexibility to invest in its strategic priorities and core business.
Kroger expects the transaction to be accretive to adjusted EPS per diluted share in the second full year after close, excluding one-time transaction and integration costs.
Store divestitures
In connection with obtaining the requisite regulatory clearance necessary to consummate the transaction, Kroger and Giant Eagle expect to make limited Giant Eagle store divestitures.
The transaction is expected to close in 2027, subject to receipt of required regulatory clearance and other customary closing conditions.
About Kroger
At The Kroger Co. (NYSE: KR), we are, across our family of companies more than 400,000 associates who serve over 11 million customers daily through an eCommerce and store experience under a variety of banner names, serving America through food inspiration and uplift, and creating #ZeroHungerZeroWaste communities. To learn more about us, visit our newsroom and investor relations site.
About Giant Eagle
Giant Eagle, Inc., ranked among Forbes magazine’s largest private corporations, is one of the nation’s largest food retailers and distributors. Founded in 1931, Giant Eagle, Inc. has grown to be a leading food and pharmacy retailer in the region, with more than 200 stores throughout western Pennsylvania, north central Ohio, northern West Virginia, Maryland, and Indiana.