Elizabeth Warren And Bernie Sanders Lead Opposition To Kroger-Albertsons Merger

Sens. Elizabeth Warren (D-Mass.) and Bernie Sanders (I-Vt.) sent a letter to Federal Trade Commission Chair Lina Khan on Tuesday, asking that the regulator oppose the merger between grocery giants Kroger and Albertsons.

The progressive politicians argued that the proposed $25 billion deal would lead to higher prices and lower wages, hurting shoppers and workers alike. Kroger and Albertsons are two of the largest grocery chains in the country.

Krogers and Albertsons histories of aggressive profiteering during the pandemic present a dangerous roadmap for how a larger and more powerful company would act if this acquisition were allowed to proceed, Warren and Sanders wrote.

The lawmakers went on to call both companies anticompetitive and antiworker.

The FTC should, when evaluating the impact of a potential merger, examine Krogers and Albertsons records of raking in profits and providing massive payouts for executives and big shareholders while putting their frontline employees at risk, they wrote.

Warren and Sanders were joined on the letter by Rep. Jan Schakowsky, an Illinois Democrat. (Read the full letter below.)

At a time when food prices are soaring as a result of corporate greed, it would be an absolute disaster to allow Kroger, the 2nd largest grocery store in America, to merge with Albertsons, the 4th largest grocery store in America. The Biden Administration must reject this deal.

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At a time when food prices are soaring as a result of corporate greed, it would be an absolute disaster to allow Kroger, the 2nd largest grocery store in America, to merge with Albertsons, the 4th largest grocery store in America. The Biden Administration must reject this deal.
Bernie Sanders (@SenSanders) October 14, 2022

Kroger and Albertsons have a combined 5,000 stores and 710,000 workers in the U.S., with dozens of chains between them, such as Fred Meyer and Ralphs (Kroger) and Safeway and Jewel-Osco (Albertsons).

Workers at many stores under both companies are represented by the United Food and Commercial Workers union. At least four affiliates of that union have come out against the merger, saying they have concerns about store closures and layoffs . One Kroger worker recently told Reuters: I wish they would put their money toward trying to lower prices and increase wages, rather than gobbling up the competition.

The boards of both companies unanimously approved the proposed deal, saying it would help them compete with large rivals like Walmart and Amazon. Kroger CEO Rodney McMullen argued in a joint statement with Albertsons that together they would build a more equitable and sustainable food system. He also noted the deal would generate greater returns for our shareholders.

In their letter, Warren and Sanders pointed to a survey of 10,000 Kroger workers conducted by the nonprofit Economic Roundtable last year at the request of the UFCW. The authors found that the living and working conditions of Kroger workers have declined markedly over the past 20 years, leaving more than three-quarters of the companys workforce food-insecure.