Kroger Co. vowed to fight in court the Federal Trade Commission’s block of Kroger’s acquisition of Albertsons Cos. The FTC argues the merger would eliminate competition, leading to higher prices, lower product quality and fewer consumer options. Kroger maintained the opposite, saying: “The FTC’s decision makes it more likely that America’s consumers will see higher food prices and fewer grocery stores at a time when communities across the country are already facing high inflation and food deserts. In fact, this decision only strengthens larger, nonunionized retailers like Walmart, Costco and Amazon by allowing them to further increase their overwhelming and growing dominance of the grocery industry.” Kroger said it would spend $500 million on the first day after the merger’s close to begin lowering prices and would spend an additional $1.3 billion to improve Albertsons Cos.’ stores.
By: Brannon Boswell
Soource: ICSC News
