May 24, 2024 #1 Local News, Forum, Information and Event Source for Venice Beach, California.

“Stop the Merger” Campaign Launched to Prevent $25 Billion Deal Between Kroger and Albertsons

Critics say the proposed merger, which is currently under review by the FTC, would create a monopoly in many areas across the country.

A coalition of more than 100 organizations from different backgrounds across the United States is banding together to oppose the proposed $25 billion merger of grocery chains Kroger and Albertsons. The coalition, known as the “Stop the Merger” campaign, is undertaking a national and state-level effort to prevent the deal from going ahead.

On March 14, the coalition announced the launch of its website, www.NoGroceryMerger.com, which contains information and research on the negative impact of the proposed merger. The website also features stories from community members, workers, and others affected by the merger, as well as tools for organizations and individuals to express their opposition to the Federal Trade Commission (FTC), which oversees the regulatory review of proposed mergers.

In October 2022, Kroger and Albertsons announced their intention to merge in a deal worth $24.6 billion. Critics say the proposed merger, which is currently under review by the FTC, would create a monopoly in many areas across the country, as the two chains have stores and manufacturing facilities in almost every state and employ over 700,000 workers across numerous local banners. Both Albertsons and Kroger have a significant presence in the Los Angeles region, operating numerous stores and employing thousands of workers. In the Los Angeles area Kroger operates under several local banners such as Ralphs and Food 4 Less, while Albertsons operates under the Albertsons, Vons, Pavilions and Safeway banners.

According to the coalition, the proposed merger would have numerous negative consequences, including driving out competition, increasing food prices, creating food deserts, putting hundreds of thousands of jobs at risk, and harming local farmers and ranchers. The coalition claims that the real motives behind the merger are corporate greed by C-Suite executives and private equity firms that are significant stockholders.

The coalition has taken a variety of actions to oppose the merger, including writing letters to the FTC and state attorney generals, meeting with federal and state officials and regulators, holding press conferences and virtual town halls, participating in public events on the merger hosted by government officials, and engaging in various local community activities. 

The coalition’s members come from a diverse range of organizations, including those focused on consumer protection, faith, economic justice, anti-poverty, food justice, environmental protection, women’s rights, Black Indigenous People of Color advocacy, and farmer and farmworker advocacy, among others.

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