(BRK.A), (BRK.B)
In a major move, Kroger is moving its convenience store business to Berkshire Hathaway’s McLane Company.
McLane Company has announced a service agreement with Cincinnati, Ohio-based The Kroger Co. and its 787 c-stores located across 18 states.
Kroger has a variety of convenience stores under the banners Loaf ‘N Jug, Turkey Hill Minit Market, Tom Thumb, Kwik Shop and Quik Stop.
“We look forward to our partnership with McLane and the company’s ability to support our continued focus on the products that matter most to our customers”
“Kroger continues to raise the bar in terms of product and foodservice offerings, convenient locations and customer satisfaction. We look forward to seeing explosive growth and success as the company capitalizes on the many customer-centric offerings that set McLane apart from the competition. Whether it is the centralized control of our procurement and operations that provide our customers superior service and consistency of performance and product offerings regardless of location, to taking advantage of our best-in-class technology to assist in reducing cost and driving efficiency at retail,” said Tony Frankenberger, president of McLane Grocery.
Frankenberger added, “Like Kroger, McLane continues to set itself apart from the rest of the industry and we are honored they have chosen to take advantage of our industry-leading cold chain network, expanded fresh foods program and award-winning category management expertise. We are proud to partner with such a strong leader within our industry and look forward to building the foundation for a long lasting and mutually successful relationship.”
© 2017 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.