The US Federal Trade Commission (FTC) announced today that it has filed a lawsuit against the largest supermarket merger in US history. The Commission said the deal for Kroger to buy Albertsons for $24.6 billion was anti-competitive.
The statement emphasized that this merger will eliminate competition between Kroger and Albertsons and will result in price increases for millions of US citizens for food and other basic household items. It was stated that with the decrease in competition, the quality of products and services will also decrease and consumers will have fewer choices about where to shop.
The statement also said that the merger would harm supermarket workers, threatening the possibility of higher wages, better benefits and working conditions.
When the merger is completed, Kroger and Albertsons will operate more than 5,000 stores and approximately 4,000 retail pharmacies, employing approximately 700,000 people in 48 states.
Kroger and Albertsons announced in October 2022 that they had reached a merger agreement. Under the terms of the agreement, it was announced that Kroger would acquire all outstanding shares of Albertsons.
