Coalition Rises to Stop MegaMerger of Kroger & Albertsons: Grocery Monopoly, Antitrust, FTC
- 'Coalition Rises to 'Stop the Merger' of Kroger and Albertsons,' by Kenny Stancil, Common Dreams, March 14, 2023. Ed. "This deal is an antitrust travesty & it must be stopped," says a letter urging the FTC to block the proposed $25 billion merger between 2 of the nation's largest grocery chains.
A progressive coalition of more than 100 unions and consumer advocacy groups from across the US has come together to build the "Stop the Merger" campaign, a national and state-level effort to prevent Kroger from acquiring Albertsons and establishing the country's most powerful grocery cartel. On Tuesday, the coalition announced the launch of NoGroceryMerger.com, which includes information about the negative impacts of the proposed $25 billion merger between 2 of the nation's largest grocery chains, testimony from unionized grocery workers & elected officials, and tools for people to express their opposition to the potential deal. Individuals and organizations can sign the coalition's letter to the Federal Trade Commission (FTC), which is currently reviewing the grocery giants' proposal and has the regulatory authority to reject it.
If approved, the merger would likely "lead to store closures, worsen food deserts, increase prices for consumers, & destroy thousands of unionized grocery jobs," the letter warns.
"This deal is an antitrust travesty & it must be stopped." Since the Covid-19 pandemic and Russia's invasion of Ukraine disrupted international supply chains—rendered fragile by decades of neoliberal globalization—Kroger, Albertsons, & other mega-grocers have capitalized on these crises as well as the bird flu outbreak, citing them to justify price hikes that far outpace the increased costs of doing business. Such price gouging has been exacerbated by preceding rounds of supermarket consolidation, & the coalition warns that if the proposed merger between Kroger & Albertsons goes through, it "will no doubt create a monopoly in the grocery industry."
Less competition, says the coalition, would result in even higher food prices & hundreds of shuttered stores—intensifying unequal access to healthy food. It also threatens to destroy thousands of jobs & hurt the ability of farmers & other suppliers to sell their products. - It's simple: This merger will be bad for workers, bad for customers, & bad for our communities." Cincinnati-based Kroger trails only Walmart in grocery sales, while Boise-based Albertsons is the 4th largest grocery chain in the U.S., behind Costco. Together, Kroger & Albertsons, including their numerous subsidiaries, employ more than 700,000 workers at roughly 5,000 retail stores & more than 50 manufacturing facilities across 48 states plus Wash., D.C. The campaign's fact sheet states, "If this merger goes through, the resulting company will become the largest supermarket by revenue in the US with a current national market share of 36% & a combined annual sales of more than $200 billion."
As Michelle Freitas who works at a Safeway in Gunnison, Colo., noted: "My town only has 2 standalone grocery stores. If one closes & we only have one option, it will be a monopoly which means this new grocery company could raise food prices to exorbitant amounts." "If the prices for essential goods go up, how are people who are lower-income or middle-income going to be able to survive?" "Many people who work at my store live paycheck to paycheck, including parents with small children & single moms." Lawanna Archer, an employee at a Vons in Gardena, Ca., described the devastation that accompanied another merger 8 years ago, "The deal between Albertsons & Haggen in 2015 was really bad for workers," "I saw massive layoffs, cars being repossessed, foreclosures, & loss of benefits.."Union grocery workers, consumers, elected officials, & community members are standing together to fight for access to nutritious food, safe shopping experiences, & investment in good jobs in our communities."...
Read More, https://www.commondreams.org/news/stop-the-merger-kroger-albertsons
- MegaMerger Kroger-Albertsons, Multi-Brand Grocery Monopoly - 85M Hsholds, Raise $$, Pay Workers Less.
The $85 billion Kroger- Albertsons merger could affect grocery stores relied on by 85 million households. The company could Jack up prices even higher and pay workers even less. Big corporations are using the excuse of INFLATION to pass price increases on to YOU. Both Kroger and Albertsons already control dozens of grocery brands across the US * Safeway, Fred Meyer, Fry's, etc. This is a disaster in the making. The FTC has the power to intervene and stop it. They must act.
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- Seattle Times, Consumers Sue to Block Kroger- Albertsons Merger, Feb. 9, 2023.. Last week’s suit was brought by 25 consumers, including Kirkland resident Clyde D. Stensrud, in 11 states. Federal law allows private suits to enforce antitrust laws...https://www.seattletimes.com/business/consumers-sue-to-block-kroger-albertsons-merger-recover-4b-dividend/
