Kroger in talks to buy rival grocery company Albertsons

Customers leave an Albertsons grocery store with their purchases in Burbank, California, July 17, 2012.

After news of a possible acquisition of the supermarket chain by Kroger, shares of the company jumped and were briefly halted.

According to sources, the companies were hoping to make an announcement this week, but it is not final.

The news was reported by people who were discussing confidential information.

CNBC was unable to reach the two companies for comment.

Kroger is the largest grocery store in the country. It is made up of more than a dozen banners and has its own brand. Walmart is the top grocery store in the U.S.

Kroger is the largest company. The market cap of the company is more than that of the company.

Competition in the grocery industry is getting more intense. Five years ago, Whole Foods was acquired byAmazon. Its stores, which now include Amazon Fresh, still command a small percentage of the overall US grocery market.

Kroger struck a deal with a British online grocery store to build huge robot-powered fulfillment centers. The new business model has allowed it to enter new markets. In the Northeast, it plans to expand.

Curbside pickup and home delivery are some of the services that have been improved due to the Pandemic. Grocers have been pressured by those investments. Inflation has driven up the costs of food in the grocery business.

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