Kroger has launched a bid to acquire rival Giant Eagle for $1.65 billion, the companies announced July 1. Pennsylvania-based and family-owned Giant Eagle has roughly $9 billion in annual sales across 197 supermarkets and 11 standalone pharmacies in Indiana, Ohio, Maryland, Pennsylvania and West Virginia. Kroger's Board of Directors unanimously approved the deal, comprised of $1.2 billion in cash and the assumption of about $400 million in outstanding liabilities, company officials said.