Albertsons reportedly in talks to acquire Price Chopper

NEW YORK — Albertsons and Price Chopper reportedly might be nearing a deal for Albertsons to buy the Schenectady, N.Y.-based supermarket chain for about $1 billion. Reuters broke the news Wednesday that the companies were in talks, citing sources familiar with the matter. 

 

Price Chopper, which had its president and COO Scott Grimmett take over as CEO of parent company Golub Corp. in January, is currently undergoing a $300 million rebrand, which it announced in 2014. Golub currently operates 136 Price Chopper and Market 32 stores in New York, Vermont, Connecticut, Pennsylvania, Massachusetts and New Hampshire. It launched as a supermarket chain in 1932 after Russian immigrant Lewis Golub opened a wholesale grocery warehouse in 1922. 

 

The news comes close to two years after Albertsons completed its $9.2 billion merger with Safeway. According to the Reuters report, negotiations are not finalized and may still fall through. To read the full report, click here.