A Billion Dollar Boo-Boo For Price Chopper As Deal Falls Through
It's been in talks for a while now that Albertsons Co., the second largest supermarket chain in the country, wanted to acquire the over 130 northeastern Price Chopper and Market 32 grocery stores. I mean, it sounded like a great idea. Like putting a hotel on Boardwalk in a game of Monopoly.
But just like the roll of the dice, nothing is certain or set in stone.
According to two separate supermarket industry trades, the deal is dunzo and Albertsons Co. has moved it's focus back to their initial public stock offering.
The question really is though, why the change of heart?
It turns out that sources to the trades are claiming that the Market 32 brand isn't as profitable as they were expecting it to be.
Yeah, that would cause a problem, huh? Oops.