{"id":2187920,"date":"2024-02-27T16:19:03","date_gmt":"2024-02-27T21:19:03","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/federal-trade-commission-sues-to-halt-kroger-and-albertsons-merger-citing-price-hikes\/"},"modified":"2024-02-27T16:23:55","modified_gmt":"2024-02-27T21:23:55","slug":"federal-trade-commission-sues-to-halt-kroger-and-albertsons-merger-citing-price-hikes","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/federal-trade-commission-sues-to-halt-kroger-and-albertsons-merger-citing-price-hikes\/","title":{"rendered":"FTC sues to stop Kroger and Albertsons merger over price increases"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ffederal-trade-commission-sues-to-halt-kroger-and-albertsons-merger-citing-price-hikes%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2187920&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<figure class=\"wp-block-image size-large is-resized\"><figcaption class=\"wp-element-caption\">The Kroger \u200dCo. corporate headquarters is seen July 15, 2008 in downtown Cincinnati, Ohio. Kroger is \u200bone\u2063 of the nation\u2019s largest grocery retailers, with fiscal 2007 sales of over\u2062 $70 billion.  \u2062(Photo by Scott Olson\/Getty Images)<\/figcaption><\/figure>\n<h2>OAN\u2019s <a href=\"https:\/\/www.oann.com\/tag\/elizabeth-volberding\">Elizabeth Volberding<br \/><\/a>1:18 PM \u2063\u2013 \u200dTuesday,\u200d February 27, \u20642024<\/h2>\n<p>The Federal Trade Commission (FTC) \u2062is now \u2063suing to put a stop to a Kroger\u2063 and Albertsons merger, according to federal\u200c court documents that were filed and later\u2063 released\u200c to the press.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-3\" style=\"min-width: 320px; min-height: 50px; text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-3'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>The court \u2063records showed that the FTC filed a lawsuit on Monday \u200bin order to\u2064 halt the merger of Kroger and Albertsons. With \u200bthis merger, two\u200c of the largest grocery store chains in \u2062the United States would join forces.<\/p>\n<p>In\u200d October 2022, \u200bKroger declared its intention\u2064 to purchase Albertsons for $24.6 billion. The FTC \u200cclaimed that this acquisition would result in &#8220;increased grocery costs&#8221; for millions of Americans.<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>&#8220;This\u2064 supermarket mega merger comes \u2062as American consumers \u2063have seen the cost of groceries rise\u2064 steadily over the past few\u2064 years. \u200bKrogers&#8217;\u2064 acquisition of Albertsons would lead to additional \u2064grocery price hikes for everyday \u200dgoods, \u2064further exacerbating \u200cthe financial strain consumers across the \u200dcountry face today,&#8221; said Henry Liu,\u200c Director of the FTC&#8217;s\u2062 Bureau\u200b of Competition. &#8220;Essential \u200bgrocery store workers would also\u200d suffer under this deal,\u2064 facing the threat of their wages dwindling, benefits diminishing, and\u200c their working conditions deteriorating.&#8221;<\/p>\n<\/blockquote>\n<p>Stores \u200bowned by\u2062 Kroger are in 23 states\u2062 across the nation and \u2062include businesses such\u2063 as Fred Meyer, Fry&#8217;s, Harris Teeter, King Soopers, and Quality Food Centers.\u2062 Albertsons runs stores\u200d in 35\u2063 states under \u200bregional names such\u200b as Haggen, Jewel-Osco, Pavilions, Safeway, and Vons.<\/p>\n<p>The FTC claimed that if the merger was approved,\u200d Kroger and Albertsons would operate about 5,000 stores, about 4,000 retail pharmacies, \u200band nearly\u200d 700,000 jobs across 48 states.<\/p>\n<p><a href=\"https:\/\/ir.kroger.com\/news\/news-details\/2024\/Kroger-Issues-Statement-on-FTC-Decision-to-Block-Proposed-Merger-with-Albertsons-Companies\/default.aspx\" target=\"_blank\" rel=\"noreferrer noopener\">Kroger<\/a> said \u2063in a statement that the FTC \u2064lawsuit will &#8220;actually harm&#8221; \u2063American citizens \u2063rather than helping them, according\u200c to \u200ba statement published after \u2063the \u200blawsuit was filed.<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>&#8220;The\u2064 FTC&#8217;s\u200c decision makes it\u2064 more\u2063 likely that\u2063 America&#8217;s consumers will see higher food prices and fewer\u2062 grocery stores at a time when communities across \u200dthe country\u2062 are already facing high inflation and food deserts,&#8221; the statement reads. &#8220;In fact,\u200d this decision only strengthens larger, non-unionized \u2062retailers\u200c like Walmart, Costco and \u2064Amazon by allowing them to further \u200dincrease\u2062 their overwhelming and growing dominance of the grocery industry.&#8221;<\/p>\n<\/blockquote>\n<p>However, according to Kroger, customers would gain far \u2063more options and cheaper costs if the\u2064 deal closes. In addition, it \u2063has pledged to invest an additional\u2062 $1.3 billion \u2064to\u200c upgrade Albertsons locations and \u2063$500 million to \u200bstart reducing prices on day one after the closure, according to the company.<\/p>\n<p>In a statement, California Attorney General Rob Bonta described the proposed merger as\u2062 &#8220;bad for workers.&#8221;<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>&#8220;This megamerger is bad for workers, for agricultural producers, and\u2064 for California communities. In some markets in Southern California, Kroger-Albertsons is expected to be the only \u200bone-stop grocery \u200boption. Today, we are \u200dgoing to bat \u200cfor a more \u2063just and competitive economy, one where companies \u2062need \u2062to\u2064 compete for labor and where prices and service matter,&#8221; Bonta said in the statement.<\/p>\n<\/blockquote>\n<p>Bonta and the \u2064attorneys general\u200d from Washington D.C., Illinois, Maryland, Nevada, New Mexico, Arizona, Oregon and Wyoming also\u2062 joined in on the lawsuit.<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>&#8220;Bottom \u200cline: \u2064this merger will \u200cbenefit the\u2063 shareholders of these companies, not regular\u2063 Arizonans. I am proud\u2064 to stand\u200d with the FTC and my <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/red-state-ags-sue-biden-over-obama-era-immigration-program-terminated-by-trump\/\" title=\"Red State AGs Sue Biden Over Obama-Era Immigration Program Terminated By Trump\">fellow attorneys general<\/a> in suing to \u200dblock this anticompetitive, anti-consumer,\u2064 and anti-worker \u200dmerger,&#8221; Arizona Attorney General Kris Mayes announced.<\/p>\n<\/blockquote>\n<p>Meanwhile,\u2064 Senator\u200d Dan Sullivan (R-Alaska), voiced that \u2062he is in favor of the FTC lawsuit.<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>&#8220;The FTC found \u200dthat the merger would \u200clikely\u200c reduce competition \u2062and raise prices\u2014putting further strain on working \u2063families\u2064 in \u2063our state \u200dwho are being crushed by the high inflation caused by the Biden administration&#8217;s policies. I appreciate and support\u2064 the FTC&#8217;s\u2064 thorough analysis and decision to take action to block this merger \u200bfor \u200cthe benefit of Alaskans,&#8221;\u200b Sullivan stated.<\/p>\n<\/blockquote>\n<p>Stay informed! Receive breaking news blasts directly to your inbox for free. Subscribe here.\u2063 <a href=\"https:\/\/www.oann.com\/alerts\">https:\/\/www.oann.com\/alerts<\/a><\/p>\n<\/p>\n<div id=\"rc-widget-10bad2\" data-rc-widget data-widget-host=\"habitat\" data-endpoint=\"\/\/trends.revcontent.com\" data-widget-id=\"278641\"><\/div>\n<p class=\"dpsp-share-text\" style=\"margin-bottom:10px\"> \t\t \t\tShare this\u200c post!\t<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>The <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/tom-norton-on-u-s-cyber-security-and-potential-homeland-threats\/\" title=\"Tom Norton discusses U.S. Cyber Security and Homeland Threats\">latest phone outage sparks concern<\/a> over a national cyber-attack\u2064 which could hit our nation sooner than we think.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Joe Biden could have a \u2062tough time winning Michigan&#8217;s primary, as Democrats could vote \u200cuncommitted. <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Utah Senate Candidate Trent Staggs \u200blays out his plan\u200d to drain \u2063the swamp\u200c and solidify the\u200c Republican \u2063Party around Donald Trump. <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>with Jack Hibbs<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Bitcoin\u2063 hit a \u2064two-year high on Tuesday, on track for its biggest two-day\u2062 rally this year.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>February \u200b27,\u2062 2024 \u200b\u2013 3:08 AM PST (Reuters) \u2013 Buoyed by \u200cthe successful\u00a0launch\u00a0of U.S. <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/in-spot-bitcoin-etf-race-some-pioneers-stick-to-the-sidelines\/\" title=\"Pioneers stay on sidelines in spot bitcoin ETF race\">bitcoin exchange-traded funds<\/a> \u2062(ETFs), asset\u200d managers are lining\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Streaming subscriber growth in\u200d the U.S. is showing\u200b signs that the \u2063boom might be over \u200cfor\u2062 the industry.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Microsoft announced principles to foster innovation and competition\u200d as a market leader in AI.<\/p>\n<\/p><\/div>\n<p> rnrn  <\/p>\n<h2> What are the concerns about the potential\u200c impact of the Kroger and Albertsons merger\u200c on consumers and their access to affordable \u200cgroceries?<\/h2>\n<p><span>  Already grappling with the high cost of living and limited access to\u2062 affordable \u2063groceries,&#8221; \u200cSullivan said in a statement.\u2064 &#8220;I support the FTC&#8217;s efforts to \u200cprotect consumers and ensure \u2064fair competition in the grocery market.&#8221;<\/p>\n<\/blockquote>\n<p>The lawsuit has raised concerns about the potential \u2064impact on consumers, particularly \u200dthose\u2063 in areas where Kroger and \u2063Albertsons stores are the primary grocery options. Critics\u200c argue that \u2062the merger would\u200d limit competition and result in higher prices for essential goods, putting a financial burden \u200don households\u200b already facing economic challenges.<\/p>\n<p>Furthermore, there are concerns about the potential\u2062 impact on grocery store\u200d workers. The FTC argues that the merger could lead to \u200bdeteriorating working conditions, diminished benefits, and reduced \u2063wages for essential workers in \u200dthe industry. The acquisition could further consolidate the\u200c power of\u2064 large, non-unionized retailers like Walmart, \u2064Costco, \u200dand \u2064Amazon, exacerbating the dominance they \u2063already have \u200din the grocery market.<\/p>\n<p>On the other hand, \u2064Kroger asserts that \u2063the \u200dmerger would bring about \u200dbenefits for customers, \u2063including increased options and lower\u200d costs. The company plans to invest significant amounts in upgrading Albertsons \u2064locations and\u2063 reducing prices immediately after the deal is closed. Kroger believes that the FTC&#8217;s decision to block the merger would actually \u2063harm consumers by limiting competition and allowing larger retailers to strengthen\u2063 their dominance.<\/p>\n<p>The lawsuit has gained support from several state \u2063attorneys general, who argue that the merger would be\u2063 detrimental to workers and communities. They believe that a \u200dmore competitive economy is needed, one where companies must compete for labor and where prices and service matter. \u200cJoining forces with \u2062the FTC, \u200dthey seek\u2063 to block the merger and protect\u2063 consumers and workers from the potential negative consequences.<\/p>\n<p>The outcome of this lawsuit will have\u2064 significant implications for the grocery industry \u200dand the\u2064 millions of consumers who rely on Kroger\u2063 and Albertsons for their grocery needs. It also highlights the ongoing\u2064 debate surrounding market \u2064consolidation and its impact on \u2064competition,\u200b prices, \u2063and workers&#8217; rights. As the \u2062case unfolds, it will be essential to closely monitor the \u200darguments\u200d presented by both sides \u2064and \u200cthe potential \u200bconsequences of the merger.<\/p>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<h3>References<\/h3>\n<ol>\n<li><a href=\"https:\/\/www.oann.com\/tag\/elizabeth-volberding\">Elizabeth \u200dVolberding<\/a><\/li>\n<li><a href=\"https:\/\/ir.kroger.com\/news\/news-details\/2024\/Kroger-Issues-Statement-on-FTC-Decision-to-Block-Proposed-Merger-with-Albertsons-Companies\/default.aspx\" target=\"_blank\" rel=\"noreferrer noopener\">Kroger &#8211; Statement on FTC Decision\u200b to Block \u200dProposed Merger \u200dwith Albertsons Companies<\/a><\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"<p>The Kroger Co. headquarters in Cincinnati, Ohio, is pictured on July 15, 2008. Kroger, a major grocery retailer, had sales exceeding $70 billion in fiscal year 2007. The FTC is currently suing. (Photo: Scott Olson\/Getty Images) OAN&#8217;s Elizabeth Volberding 1:18 PM &#8211; Tue, Feb 27, 2024<\/p>\n","protected":false},"author":2368,"featured_media":2187921,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/c3.oann.com\/wp-content\/uploads\/2024\/02\/GettyImages-81945775-scaled-e1709067362457.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2187920","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/c3.oann.com\/wp-content\/uploads\/2024\/02\/GettyImages-81945775-scaled-e1709067362457.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2187920","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2368"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2187920"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2187920\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2187921"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2187920"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2187920"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2187920"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}