Kroger Extends Exchange Offers and Consent Solicitations for ACI Notes

The Kroger Co. (NYSE:KR) has announced the extension of the expiration date for its offers to exchange any and all outstanding notes issued by Albertsons Companies, Inc. (ACI) for new notes to be issued by Kroger and cash. The offers, collectively referred to as the “Exchange Offers,” have been extended to aggregate up to $7,441,608,000 principal amount. Concurrently, the expiration date for related solicitations of consents, known as the “Consent Solicitations,” to adopt proposed amendments to the ACI Indentures governing the ACI Notes has also been extended.

Kroger disclosed that the new expiration date for both the Exchange Offers and Consent Solicitations has been moved from November 26, 2024, to December 3, 2024, at 5:00 p.m., New York City time. These extensions are part of the process related to the pending merger between a direct subsidiary of Kroger and ACI, with ACI surviving as a wholly-owned subsidiary of Kroger. The Exchange Offers and Consent Solicitations are being conducted in accordance with terms specified in a private offering memorandum exempt from registration under the Securities Act of 1933.

The settlement of the Exchange Offers and Consent Solicitations is expected to occur promptly following the extended Expiration Date and is subject to the completion of the Merger. Notably, the closing of the Merger is not contingent upon finalizing the Exchange Offers or Consent Solicitations.

Documentation and further information relating to the Exchange Offers and Consent Solicitations will only be provided to eligible holders of ACI Notes who qualify as specified by regulatory standards. The terms of the Exchange Offers and Consent Solicitations remain unchanged except for the updated expiration dates.

Kroger emphasized that its purpose, “to Feed the Human Spirit™,” guides its operations. The company, with nearly 420,000 employees, is dedicated to serving over eleven million customers daily and fostering a #ZeroHungerZeroWaste initiative in communities across America.

The Company has reiterated that forward-looking statements included in press releases are based on current information and may be subject to various risks, uncertainties, and factors that could impact actual results. Kroger commits to provide updates on these statements but maintains that actual outcomes may differ from what is foreseen. No obligation is set for the Company to update the forward-looking information included in its press releases.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Kroger’s 8K filing here.

Kroger Company Profile

The Kroger Co operates as a food and drug retailer in the United States. The company operates combination food and drug stores, multi-department stores, marketplace stores, and price impact warehouses. Its combination food and drug stores offer natural food and organic sections, pharmacies, general merchandise, pet centers, fresh seafood, and organic produce; and multi-department stores provide apparel, home fashion and furnishings, outdoor living, electronics, automotive products, and toys.