Kroger did not buy Giant Eagle. In fact, it was the other way around. In 1928, Eagle, which had 125 stores at the time, merged with Kroger. This merger came about as a result of an agreement between the three families involved – the Moravitz, Weizenbaum, and Kroger families.
Interestingly, as part of the merger agreement, the three families agreed to stay out of the grocery business for at least three years. This allowed them to explore other ventures and potentially avoid any conflicts of interest. During this time, the Moravitz and Weizenbaum families decided to build their own successful chain of grocery stores called OK Grocery.
OK Grocery quickly gained popularity and success, establishing a strong presence in the grocery industry. This demonstrates the entrepreneurial spirit and determination of these families to succeed even after their initial merger with Kroger.
As an expert sommelier and brewer, I can appreciate the complexities of the grocery industry and the mergers and acquisitions that take place within it. It is fascinating to see how different companies evolve and adapt to changing market conditions.
Kroger did not buy Giant Eagle. Instead, Eagle merged with Kroger in 1928, and the Moravitz and Weizenbaum families went on to create their own successful grocery chain, OK Grocery. This serves as a reminder of the dynamic nature of the business world and the opportunities that arise from mergers and acquisitions.