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Announcement:

Moody's says Kroger's acquisition of Vitacost.com is Credit positive but no immediate ratings impact

Global Credit Research - 02 Jul 2014

New York, July 02, 2014 -- Moody's: The Kroger Co. ("Kroger") and Vitacost.com, Inc. today announced a merger agreement under which Kroger will purchase all outstanding shares of Vitacost.com for $8.00 per share or approximately $280 million. The transaction is expected to close in the third calendar quarter of 2014. Moody's believes the transaction is credit positive as Vitacost.com is a leading online retailer of healthy living products and its ecommerce platform will complement and accelerate Kroger's own ecommerce capabilities and strengthen its omnichannel strategy. Kroger currently offers online ordering for pick-up at 154 Harris Teeter stores and online ordering for delivery to homes in Denver.

For additional information please refer to the issuer comment posted on moodys.com

The Kroger Co., headquartered in Cincinnati, Ohio, is the largest supermarket chain in the U.S. The company operates 2,642 supermarkets -- about half of which include fuel centers -- in 34 states. Kroger's store banners include Kroger, Fred Meyer, Ralphs, Food 4 Less, and King Soopers. In addition, the company operates through subsidiaries 787 convenience stores and 327 fine jewelry stores, and operates 37 food processing plants which produce a substantial portion of its private label merchandise.

Manoj Chadha
Vice President - Senior Analyst
Corporate Finance Group
Moody's Investors Service, Inc.
250 Greenwich Street
New York, NY 10007
U.S.A.
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653

Janice Ann Hofferber
Associate Managing Director
Corporate Finance Group
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653

Releasing Office:
Moody's Investors Service, Inc.
250 Greenwich Street
New York, NY 10007
U.S.A.
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653

Moody's says Kroger's acquisition of Vitacost.com is Credit positive but no immediate ratings impact
No Related Data.
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