US sues to block merger of grocery giants Kroger and Albertsons, saying it could push prices higher

FILE - A Kroger grocery store is seen, Jan. 23, 2021, in Novi, Mich. The Federal Trade Commission on Monday, Feb. 16, 2024, sued to block a proposed merger between grocery giants Kroger and Albertsons, saying the $24.6 billion deal would eliminate competition and lead to higher prices for millions of Americans. - The Federal Trade Commission sued to block a proposed merger between grocery giants Kroger and Albertsons, saying the $24.

Kroger, based in Cincinnati, Ohio, operates 2,750 stores in 35 states and the District of Columbia, including brands like Ralphs, Smith’s and Harris Teeter. Albertsons, based in Boise, Idaho, operates 2,273 stores in 34 states, including brands like Safeway, Jewel Osco and Shaw’s. Together the companies employ around 700,000 people., was bound to get tough regulatory scrutiny. U.S. prices for food eaten at home typically rise 2.5% per year, but in 2022 they rose 11.

“When large corporations are not checked by healthy competition, they too often do not pass cost savings on to consumers and exploit their workers,” Donenberg said. “This decision only strengthens larger, non-unionized retailers like Walmart, Costco and Amazon by allowing them to further increase their overwhelming and growing dominance of the grocery industry,” Kroger said.

“Regardless of the next legal steps, we must never forget that Kroger and Albertsons are successful because of these incredibly dedicated workers, and no proposed merger should be allowed to endanger their jobs or their livelihoods,” the union said Monday. Kroger has promised to invest $500 million to lower prices as soon as the deal closes. It said it also invested in price reductions when it merged with Harris Teeter in 2014 and Roundy’s in 2016. Kroger also promised to invest $1.3 billion in store improvements at Albertsons as part of the deal. 413 stores and eight distribution centers that Kroger and Albertsons agreed to divest in markets where the two companies’ stores overlapped.

Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

Colorado Attorney General announces lawsuit to block Kroger, Albertsons mergerJeff is a digital journalist with the Denver7 team.
Herkunft: DenverChannel - 🏆 239. / 63 Weiterlesen »

FTC and 9 states sue to block Kroger-Albertsons supermarket mergerThe deal would combine the country's two largest grocery store chains. The companies say they have to merge to compete with Walmart.
Herkunft: KTOOpubmedia - 🏆 439. / 53 Weiterlesen »

Kroger-Albertsons merger in jeopardyThe Federal Trade Commission is suing to block Kroger's proposed $24.6 billion deal to buy a major rival, saying it would lead to higher prices for millions of Americans.
Herkunft: FoxBusiness - 🏆 458. / 53 Weiterlesen »

What happened to the dozen D-FW supermarkets sold in the last big grocery merger?Kroger has said it will sell 26 stores in Texas to comply with antitrust concerns around its proposed plan to buy Albertsons.
Herkunft: dallasnews - 🏆 18. / 71 Weiterlesen »