Kroger already operates 2,800 stores in 35 states, while Alberstons operates 2,220 stores in 34 states.
. The Justice Department and the Federal Trade Commission were already in the process of updating merger guidelines to better detect and prevent anticompetitive deals. In July, President Joe Biden signed an executive order promoting competition in business and calling for tougher scrutiny of mergers.To ease the regulatory process, Kroger and Albertsons said would divest stores in markets where they overlap.
Still, that is a distant second to Walmart's 22% share. Amazon, which bought Whole Foods in 2017, is also a growing player in the space, with 3% share. Warehouse store Costco controls 6%. Kroger said the combined stores also would provide greater and faster access to fresh food, with a total of 66 distribution centers and 52 manufacturing plants. Together, the stores operate in 48 states and the District of Columbia.
"The proposed merger of these two grocery giants is devastating for workers and consumers alike and must be stopped," said Kim Cordova, president of UFCW Local 7, which represents 6,320 Safeway workers in Colorado and Wyoming.There are three factors that could lead to inflation which include demand-pull inflation, cost-push inflation and built-in inflation.
"A Kroger-Albertsons deal would squeeze consumers already struggling to afford food, crush workers fighting for fair wages and destroy independent, community stores," said Sarah Miller, executive director of the American Economic Liberties Project, a nonprofit that supports stronger corporate accountability and antitrust measures.It was no secret that Albertsons was thinking about selling the company.
Cerberus currently holds nearly 30% of Albertsons shares. The merger deal includes a $4 billion dividend to Albertsons shareholders.
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