Supermarket chain Albertsons Companies is in advanced talks to acquire closely held grocery-store operator Price Chopper for around $1 billion, people familiar with the matter told Forbes magazine, which first reported it last Tuesday.
The magazine estimated the transaction could be worth $1 billion, although it quoted sources cautioning negotiations may be unable ro reach a deal.
Price Chopper, owned by the Golub family and based in Schenectady, operates 170 markets in New York and western New England, including three in Otsego County – at Oneonta, Cooperstown and Richfield Springs. Tops, Hannaford, Aldi and Victory also operate supermarkets in the county.
Albertsons, based in Boise, Idaho, operates 2,200 stores and employs more than 250,000 employees. Owned by Cerberus Capital Management, it is the second-largest supermarket chain in the country, after Kroger.
Forbes said the deal “would underscore the wave of consolidation sweeping the U.S. grocery industry,” as regional chains struggle to compete against online retailers like Amazon, big boxes like Walmart, and discount chains like ALDI.