Albertsons has scuttled plans to acquire Schenectady-based Price Chopper in a $1 billion deal, according to Food Trade News.
The story says that Albertsons, which wanted Price Chopper's 135 northeastern stores to enhance its footprint, wants to focus instead on its coming initial public stock offering.
The story also claims, using what it says was "financial sources," that Price Chopper's stores have been losing market share amid tough competition and that its new Market 32 chain has not performed as well as expected.
To read the rest of the story, please go to: Albany Times Union
