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Albertsons in talks to buy East Coast grocery chain for $1 billion, Reuters reports

Albertsons was founded in the 1930s by Joe Albertson with a grocery store on this site, at State and 16th streets in Boise.
Albertsons was founded in the 1930s by Joe Albertson with a grocery store on this site, at State and 16th streets in Boise. doswald@idahostatesman.com

Albertsons is in talks to buy the New York-based grocery chain Price Chopper for about $1 billion, Reuters reports.

The Albertsons chain, based in Boise, has grown into the nation’s second-largest traditional grocer, mainly through mergers and acquisitions over the past few years.

The company owned 2,300 stores and employed 283,000 people as of September.

The report by the British news agency on a potential Price Chopper acquisition cited anonymous sources. The sources “cautioned that it is still possible for the deal negotiations to fall through,” the story said. The report said Price Chopper owns about 130 stores in the Northeast U.S.

Albertsons declined to comment Wednesday. A spokesperson told the Statesman that the company does not comment on rumors or speculation.

A top Albertsons executive in September said the company was “continuing to look for more acquisition opportunities” as well as building new stores.

The chain, owned by a consortium of companies led by private-equity firm Cerberus Capital Management, planned an initial public stock offering last year but has since delayed going public.

Audrey Dutton: 208-377-6448, @IDS_Audrey

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