(RTTNews) - The Kroger Co. (KR) on Friday announced the sale of its subsidiary Vitacost.com, Inc., an eCommerce retailer of health and wellness products, to iHerb. The transaction closed on January 8.
Kroger said the sale is not expected to affect its previously issued 2025 outlook. Financial terms of the transaction were not disclosed.
"As we shared earlier this fiscal year, we are reviewing all non-core assets to determine their ongoing contribution and role within the company as we make progress on our key priorities: simplifying our organization, improving the customer experience, and focusing on Kroger's core business," said Ron Sargent, Kroger's Chairman and CEO. "The sale of Vitacost is an important step in that process.
Kroger shares closed at $59.79 on Thursday, up 0.86%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
