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Kroger CEO Defiant over Proposed Merger with Albertsons

05/19/2023

The Kroger Company CEO and Chairman, Robert McMullen is defiant that the company will litigate any regulatory or other challenges to the proposed acquisition of Albertsons Company.  Kroger and Albertsons intend to close the transaction in January 2024.

 

Kroger has filed for dismissal of a class-action lawsuit involving consumers from eleven states who contend that the proposed merger violates antitrust law. Kroger and Albertsons jointly face legal action from the United Food and Commercial Workers Union.

 

 It is understood that the U.S. Federal Trade Commission is evaluating possible consequences of the proposed merger based on interviews with suppliers, competitors and the UFCW.

 

At the very least the merger will result in divestment of about 500 stores to qualified and financially sound competitors. Some observers believe that Amazon could acquire the entire group of stores to secure their brick-and-mortar presence in grocery retail.