SUBSCRIBE TO TMCnet
TMCnet - World's Largest Communications and Technology Community

TMCNet:  Kroger to buy Vitacost.com, a Boca Raton online retailer [Sun Sentinel :: ]

[July 03, 2014]

Kroger to buy Vitacost.com, a Boca Raton online retailer [Sun Sentinel :: ]

(South Florida Sun Sentinel (FL) Via Acquire Media NewsEdge) July 03--Supermarket giant The Kroger Co. announced Wednesday an agreement to buy online retailer Vitacost.com for $280 million.

Boca Raton-based Vitacost sells more than 45,000 healthy living products, including vitamins, supplements and personal care items to about 2.3 million active customers.

Kroger plans to buy Vitacost's outstanding shares at $8 per share in cash, about $280 million. The purchase price represents a premium of 51 percent to Vitacost's closing share price on Feb. 19, the day before a major Vitacost shareholder publicly requested that the company evaluate strategic alternatives, Kroger said in a statement.


The transaction is expected to close in the third quarter of the year.

The acquisition will help Kroger serve customers through ship-to-home orders in all 50 states, including 16 states where Kroger doesn't have stores, the Cincinnati-based retailer said.

Vitacost reported $382.7 million in net sales in 2013, up 15.7 percent from 2012.

Once the deal is complete, the South Florida company will operate as a subsidiary of The Kroger Co. and keep its offices in Boca Raton, its distribution facilities in North Carolina and Nevada and customer service center in North Carolina.

mvalverde@tribune.com, 954-356-4526, Twitter @MiriamValverde ___ (c)2014 the Sun Sentinel (Fort Lauderdale, Fla.) Visit the Sun Sentinel (Fort Lauderdale, Fla.) at www.sun-sentinel.com Distributed by MCT Information Services

[ Back To Technology News's Homepage ]

OTHER NEWS PROVIDERS







Technology Marketing Corporation

800 Connecticut Ave, 1st Floor East, Norwalk, CT 06854 USA
Ph: 800-243-6002, 203-852-6800
Fx: 203-866-3326

General comments: tmc@tmcnet.com.
Comments about this site: webmaster@tmcnet.com.

STAY CURRENT YOUR WAY

© 2014 Technology Marketing Corporation. All rights reserved.