Kroger buying regional grocer and pharmacy retailer Giant Eagle in deal valued at $1.65 billion

Kroger is acquiring Giant Eagle, a regional grocer and pharmacy retailer with 197 supermarkets and 11 pharmacies, in a $1.65 billion deal. The transaction includes $1.25 billion in cash and $400 million in assumed liabilities. Kroger anticipates divesting some stores for regulatory approval, with the deal expected to close next year.