Initial reports of merger talks between Target and Kroger appear to be false, according to a report Friday, March 23, from CNBC.
A source close to the matter told the financial news network that there is “no truth” to the report that the two mega-retailers were in discussion about a merger.
Fast Company, citing several people familiar with the matter, reported Friday morning that the two retailers have held discussions about a possible merger since the summer of 2017.
The CNBC report, citing a source, noted that the two retailers have held talks about Shipt, the same-day delivery service acquired by Target this past December.
Founded in 2014 and located in Birmingham, AL, Shipt is a membership-based grocery marketplace and same-day delivery platform. The company operates as a wholly-owned subsidiary of Target and continues to seek relationships with other retailers seeking same-day delivery options.
When announcing the acquisition, Target said Shipt would provide same-day delivery of groceries, essentials, home, electronics and other products, while expanding the products offered over time. By the end of 2019, same-day delivery will include all major product categories at Target.
Details about a potential working agreement between Kroger and Shipt were not immediately available.