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Kroger Explores Sale of C-Store Business

The decision to explore the possibility of a sale is “the result of a review of assets that are potentially of more value outside of the company,” the nation’s largest grocery operator said Wednesday.

Exterior of convenience store A KwikShop in Wichita, KS, one of 784 convenience stores operated by Kroger. (Photo: Vantage Point Properties)

CINCINNATI—The nation’s largest grocery operator by revenue is exploring a sale of its convenience store business. The Kroger Co. said Wednesday it had hired Goldman Sachs to identify, review and evaluate options for its 784 C-store properties, which operate under five different banners in 18 states.

“Our convenience stores are strong, successful and growing with the potential to grow even more,” says CFO Mike Schlotman. “We want to look at all options to ensure this part of the business is meeting its full potential. Considering the current premium multiples for convenience stores, we feel it is our obligation as a management team to undertake this review.”

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Paul Bubny

Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.

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