Kroger Co (KR.N), the largest U.S. supermarket chain, said it is interested in acquisitions and has approached private label manufacturers, but some potential targets want too much for their assets.
"People who are selling still have some idea of a big multiple in their head," Kroger Chairman and Chief Executive David Dillon said on Wednesday at the company's investor conference, which was webcast.
Executives said that the company would like to buy a plant that produces lower-cost private label goods — which have become more popular in the United States as consumers look to save money — and that Kroger has made a couple of unsuccessful offers, including one that faltered over competitive concerns.
The company did not mention specific names in its comments about acquisitions.
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