The Kroger Co. (Cincinnati) announced that it will be exploring strategic alternatives for its convenience store business, which could include a potential sale.
The company owns 784 convenience stores under the banners Turkey Hill Minit Markets, Loaf ‘N Jug, KwikShop, Tom Thumb and QuickStop.
“Considering the current premium multiples for convenience stores, we feel it is our obligation as a management team to undertake this review,” CFO Mike Schlotman said, according to Bloomberg. The belief is that these stores may have more value outside of Kroger.
To assist the company in reviewing its options, it has hired Goldman Sachs Group (New York).