ARIZONA NEWS

Warren, Sanders, other lawmakers send letter to FTC opposing Kroger-Albertsons acquisition

Dec 18, 2023, 4:15 AM

Several lawmakers opposed Kroger's proposed $24.6 billion acquisition of Albertsons Cos. (Photo by ...

Several lawmakers opposed Kroger's proposed $24.6 billion acquisition of Albertsons Cos. (Photo by Corrie Schaffeld)

(Photo by Corrie Schaffeld)

Six high-profile U.S. senators and congress members, including Elizabeth Warren and Bernie Sanders, have sent a letter to the Federal Trade Commission opposing Kroger Co.’s plan to acquire Albertsons Cos. Inc. for $24.6 billion on antitrust grounds.

The lawmakers say the acquisition and merger of the nation’s two largest operators of traditional supermarkets will hurt consumers, suppliers and workers.

Cincinnati-based Kroger (NYSE: KR), the nation’s largest operator of traditional supermarkets and parent company of Fry’s Food Stores in the Valley, and Boise, Idaho-based Albertsons, which also operates Safeway stores, agreed in September to sell 413 stores and as many as 650 to Keene, N.H.-based C&S Wholesale Grocers to appease antitrust regulators concerned about store overlap resulting from the acquisition.

But that’s not enough, the lawmakers said.

“This divestiture plan will not ameliorate harms to consumers, workers and the grocery industry as a whole if the merger is allowed,” they said Tuesday, Dec. 11, in the letter to FTC Chair Lina Khan. “We urge you to oppose this proposed merger, regardless of the proposed divestiture.”

This story is posted in partnership with Phoenix Business Journal. Click to read the full story.

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Warren, Sanders, other lawmakers send letter to FTC opposing Kroger-Albertsons acquisition