Kroger-Albertson merger: Unions denounce deal ahead of FTC hearing

Representatives of a coalition of United Food and Commercial Workers locals gathered on the steps of the federal courthouse in Portland on Monday morning to denounce Kroger Co.’s planned $24.6 billion acquisition of rival Albertsons Stores.

"We're fighting back because we know the merger will lead to job losses, food and pharmacy deserts, higher prices and harm to communities," said Kim Cordova, UFCW International vice president and president of Local 7, representing workers in Colorado and Wyoming. "The true goal is to consolidate power and increase profits at the expense of workers and consumers."

The Stop the Merger press conference took place an hour before a hearing on the Federal Trade Commission’s challenge to the merger was set to begin in U.S. District Judge Adrienne Nelson's courtroom. The FTC is seeking to pause the deal until it can complete its administrative process examining whether the combination would harm consumers and workers in violation of antitrust laws.

Kroger, which filed a challenge to that procedure last week, maintains that its acquisition of Albertsons would mean “lower prices and more choices for more customers in more communities, long-term job security, higher wages and more industry-leading benefits for associates and a strong unionized workforce,” with zero store closures. They contend that the only way for traditional grocery stores to survive is to achieve economies of scale to compete with big-box retailers such as Wal-Mart and Costco.

https://www.bizjournals.com/seattle/news/2024/08/26/kroger-albertsons-ftc-antitrust-hearing.html