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KROGER REACHES AGREEMENT TO ACQUIRE SCOTT’S FOOD & PHARMACY STORES IN INDIANA
CINCINNATI, Ohio, April 19, 2007 – The Kroger Co. (NYSE: KR) announced today that it has reached an agreement with SUPERVALU to acquire its 18 Scott’s Food & Pharmacy stores in northeast Indiana.
The stores will become part of Kroger’s Central division, based in Indianapolis. The division currently operates 145 stores under the Kroger, Hilander, Owen's and Pay Less banners in parts of Indiana, Illinois, Michigan, Missouri and Ohio.
“We are excited to welcome Scott’s customers and associates into our family of Kroger stores,” said Robert Moeder, president of Kroger’s Central division. “We look forward to continuing Scott’s tradition of great customer service as we expand Kroger in this market.”
Mr. Moeder said Kroger intends to continue operations under the Scott’s banner. Kroger expects to interview and offer employment to most Scott’s employees.
The transaction is expected to close later this year, subject to customary closing conditions. Terms of the agreement were not disclosed.
In addition to products already offered at Scott’s, customers in northeast Indiana will soon be able to purchase Kroger’s competitively-priced corporate products under the Private Selection, Kroger banner and Value brands. Kroger has more than 10,000 corporate brand products that are available only in Kroger stores.
Headquartered in Cincinnati, Ohio, Kroger is one of the nation’s largest retail grocery chains. The Company focuses its charitable efforts on hunger relief, K-12 education, women’s health initiatives and local organizations in the communities it serves. At the end of fiscal 2006, the Company operated (either directly or through its subsidiaries) 2,468 supermarkets and multi-department stores in 31 states under two dozen local banners including Kroger and Kroger Marketplace, Ralphs, Fred Meyer, Food 4 Less, King Soopers, Smith’s and Smith’s Marketplace, Fry’s and Fry’s Marketplace, Dillons, QFC and City Market. Kroger also operated (either directly or through subsidiaries, franchise agreements, or operating agreements) 779 convenience stores, 412 fine jewelry stores, 631 supermarket fuel centers and 42 food processing plants. For more information about Kroger, please visit our web site at www.kroger.com.
National Media: Meghan Glynn (513) 762-1304
Indiana Media: John Elliott (317) 579-8222
Investors: Carin Fike (513) 762-4969
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