Retailer finalizes sale to Elevance
Health
CINCINNATI, Oct. 4, 2024
/PRNewswire/ -- The Kroger Co. (NYSE: KR) today announced the
transaction to sell its specialty pharmacy business to Elevance
Health has closed.
Kroger announced a definitive agreement with Elevance Health for
the sale on March 18, 2024. In
closing the transaction, the retailer and Elevance Health have
worked to ensure minimal disruptions for patients and
associates.
Kroger Family of Pharmacies in-store retail locations and The
Little Clinics were not included in this transaction.
The specialty pharmacy, formerly owned by Kroger, serves
patients with chronic illnesses that require complex care.
The sale is not expected to have an impact on 2024 guidance.
Advisors
RBC Capital Markets, LLC is serving as financial advisor and Weil,
Gotshal & Manges LLP and Arnold & Porter Kaye Scholer LLP
are serving as legal advisors to Kroger.
About Kroger
At The Kroger Co. (NYSE: KR),
we are dedicated to our Purpose: To Feed the Human Spirit™. We are,
across our family of companies nearly 420,000 associates who serve
over 11 million customers daily through a seamless digital shopping
experience and retail food stores under a variety of banner
names, serving America through food inspiration and uplift, and
creating #ZeroHungerZeroWaste communities. To learn more about us,
visit our newsroom and investor
relations site.
Forward Looking Statements
Statements in this release
regarding the Company's 2024 guidance, are forward-looking
statements within the meaning of federal securities laws about the
future performance of the Company. These statements are based on
management's assumptions and beliefs in light of the information
currently available to it. Various uncertainties and other factors
could cause actual results to differ materially from those
contained in the forward-looking statements. These include the
specific risk factors identified in "Risk Factors" in our annual
report on Form 10-K for our last fiscal year and any subsequent
filings. Kroger assumes no obligation to update the information
contained herein unless required by applicable law. Please refer to
Kroger's reports and filings with the Securities and Exchange
Commission for a further discussion of these risks and
uncertainties.
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SOURCE The Kroger Co.