Kroger’s massive deal to acquire Albertsons Cos. Inc. will have no impact on plans in Rio Rancho for an upscale, Market Street Albertsons, officials said.
The companies announced a definitive agreement last week to merge in a deal valued at $24.6 billion.
“Together, Albertsons Cos. and Kroger currently employ more than 710,000 associates and operate a total of 4,996 stores, 66 distribution centers, 52 manufacturing plants, 3,972 pharmacies and 2,015 fuel centers,” according to a press release announcing the deal.
The transaction is expected to close in early 2024, the announcement said, subject to the receipt of required regulatory clearance and other customary closing conditions, including receipt of clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
The Rio Rancho Market Street isn’t the only one going up.
“In 2022, The United Family announced plans for three new stores, two in Texas and a Market Street in Rio Rancho, New Mexico. Those plans are moving forward,” said United Family spokesman Joey Marcades. “The merger isn’t expected to close for many months. Until then, we are focused on providing great service to our guests and it is business as usual.”
The Market Street will be the second in New Mexico. The state’s first Market Street is in Santa Fe at 600 N. Guadalupe St.
The stores are upscale and feature such things as a wide range of natural and organic foods, including its own O-organics line, and a specialty floral department. The site will also include a fuel and convenience store where shoppers can get a discount on gasoline — a charcuterie, fine wines, concierge and catering services.
The Market Street is the anchor for Village at Rio Rancho, the single largest commercial development in the city in several years.
On July 13, city officials and company representatives broke ground for the 65-acre multi-use project. It will also host medical offices with easy access to Presbyterian Rust Medical Center, retail stores, a hotel and potentially a couple boutique restaurants.
The project is at the corner of Westside and Unser boulevards, across from Presbyterian Rust.