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FTC, 9 States Sue to Block Kroger-Albertsons Merger
On the heels of Washington’s state attorney general suing to block the $24.6 billion mega-merger of Kroger and Albertsons, the Federal Trade Commission (FTC) and nine other states have filed a separate lawsuit also seeking to block the proposed merger.
In a lawsuit filed in federal court in Oregon, U.S. regulators and attorneys general from Arizona, California, the District of Columbia, Illinois, Maryland, Nevada, New Mexico, Oregon, and Wyoming claim the deal that would see two of the country’s largest supermarket chains merge, is anticompetitive.
The FTC contends Kroger’s purchase of Albertsons would lead to higher grocery prices, lower-quality products and services, and eliminate fierce competition for both shoppers and workers. Kroger responded swiftly to the filing, saying in a statement that blocking the merger “will actually harm the very people the FTC purports to serve: America’s consumers and workers.”
If the merger were completed, the combined company would operate more than 5,000 stores and 4,000 pharmacies across 48 states with more than 700,000 employees.
