Kroger To Cut Prices Following Merger With Albertsons - Quick Facts

(RTTNews) - The Kroger Co. (KR) said it will invest $500 million to lower prices following the merger with Albertsons starting day one following the merger close. The company will also invest $1.3 billion to improve Albertsons' stores following the transaction.

Rodney McMullen, chairman and CEO of Kroger, said: "We know this model works because we've been doing it successfully for many years, and this is exactly what this merger will bring customers - lower prices and more fresh, affordable choices."

The Kroger Co. noted that it has invested to lower prices consistently since 2003, resulting in $5 billion in customer savings.