October 15, 2022

A proposed merger between Kroger and Albertsons supermarket chains would result in higher food prices, warn Sens. Elizabeth Warren and Bernie Sanders. And they're right! Remember, this is a CASH deal. We are already being raked over the coals with grocery costs, and Kroger can somehow afford to make a cash offer -- one that will result in even more price gouging. In this time of high inflation, they have enough cash to buy another chain? Contact your senators and tell them to say no to this monopoly. Via Business Insider:

The grocery store chains announced Friday that they've entered into a merger agreement that values the combined company at about $24.6 billion. The merger would create one of the largest grocery store chains in the US — combined, Kroger and Albertsons operate 4,996 stores nationwide, though the merger would see as many as 375 of those stores spun off and others sold to competitors.

News of the merger caused two of the nation's most vocal anti-monopoly lawmakers to sound the alarm about the potential impact on shoppers.

"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," Sanders tweeted on Thursday, the Vermont senator adding that the Biden Administration "must reject this deal."

"Economy of scale" is rarely passed along to the consumers, it's about making a profitable business even more profitable. I'm cautiously optimistic that the Biden administration will rein this in. Lina Khan, the FTC chair, is notoriously skeptical of these megadeals. But it's a good idea to raise a ruckus and let them know consumers oppose it, too.

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