Posted on 02/26/2024 9:36:42 AM PST by CFW
The Federal Trade Commission on Monday announced that it filed a lawsuit to stop Kroger Company’s proposed $24.6 billion acquisition of Albertsons Companies, Inc. over concerns that the merger would create a monopoly.
The FTC said that the deal, which is the largest proposed supermarket merger in U.S. history, is "anticompetitive" and will end competition between the two chains, which would lead to higher grocery prices and lower quality products.
"Kroger’s acquisition of Albertsons would lead to additional grocery price hikes for everyday goods, further exacerbating the financial strain consumers across the country face today," FTC's Bureau of Competition Director Henry Liu said. "Essential grocery store workers would also suffer under this deal, facing the threat of their wages dwindling, benefits diminishing, and their working conditions deteriorating."
If the companies successfully merged, they would control more than 5,000 stores and 4,000 pharmacies and employ 700,000 people across 48 states.
(Excerpt) Read more at justthenews.com ...
>>>...further exacerbating the financial strain consumers across the country face today,”<<<
Caused by Bidenomics.....................
I hope the merger never happens.
but I think it will once lots of money starts moving to the right people
What’s 10% of $24 Billion?
I tend to agree. They wouldn’t be squeezing the lemon, if they didn’t think there was some juice inside. My nearest grocery is an Albertsons. It has stock on its shelves. The next further grocery has never really recovered from that empty, COVID look.
LOL - both of ‘em got chased out of San Antonio by HEB!
At my local Ralph’s Market here in L.A. (owned by Kroger), prices are skyrocketing. My grocery bill inflation is 15-20%.
Small bag of chips, mostly empty air, for $5.79?!
Prices will continue to rise as Kroger spends billions to grab more grocery companies.
They’re also cutting back on checkers and other help and moving towards self-checkout. Long lines if you want a human being to ring up your cart.
So, not much change from Albertsons - given what you say.
The rising prices and self-checkout seem to be universal.
Global control only works with the minimum number of entities to manage. It’s just about guaranteed that this has all been worked out down to the decimal point. Events currently being directed are all part of the implementation stage.
“They’re also cutting back on checkers and other help and moving towards self-checkout. Long lines if you want a human being to ring up your cart.”
My local Kroger is moving back to clerks instead of the self-check-out only counters. I was shocked a couple of weeks ago when about seven or eight manned check-outs were open. And that was on a week-day.
Kroger is still the least expensive option in my area for groceries as long as I use my Kroger card. Although, I can find some items cheaper at Walmart, it is not my favorite place to shop. Publix is even more expensive. Except for meats. I buy all meats at a small Mom&Pop type store nearby, and of course all cleaning products I purchase at the Dollar General.
Kroger is a union company is it not? Self checkout is a violation of union orthodoxy.
Where I am from, Albertsons is Acme. These supermarkets are the most expensive and last to modernize. I think competitive markets are good but the Acme markets have the least value compared to what Kroger will offer.
Where I am from, Albertsons is Acme. These supermarkets are the most expensive and last to modernize. I think competitive markets are good but the Acme markets have the least value compared to what Kroger will offer.
Exactly what I’ve found as well. Both stores are nearby, and Albertson’s prices are significantly higher on every comparable item. Kroger’s (which is Fry’s here) also have many more checkers available. If a merger happens, I hope it doesn’t drag Kroger’s down to the level of Albertson’s.
Monopolies aren’t necessarily going to result in price hikes, but the lack of competition certainly incentivizes it. The other big problems with monopolies or oligopolies is that they inhibit competition on several other levels. They make it harder for competitors to open up in a market, AND by the way they operate they make it difficult for smaller suppliers to get shelf space. So we end up with possibly higher prices and a choice between Kraft and Unilever and P&G products.
Being merely bigger is not necessarily better for anyone but those who want to be part of something bigger.
I think some of the squeeze for these mergers is coming from a bigger slice of food retailing profits is with the middlemen (distributors and not the initial producers), leaving the front line retailers left with needing bigger and bigger orders with the distributors, to keep the retailers profitable.
Good. Kroger can FO (they required their employees to get jabbed).
Monopoly? Journalists don’t understand the concept.
I live within 5 to 7 miles from 3 Krogers, 4 Publix, one Dollar General, one Dollar Tree, one Sprouts, one Whole Foods, and an ALDI.
Drive 5 more miles and repeat.
In a town of 75K.
-PJ
This merger would not create a monopoly but another competitor to Walmart. Here are the top ten grocery retailers:
Walmart: 25.2%
Costco: 7.1%
Kroger: 5.6%
Sam’s Club: 4.7%
Publix: 4.4%
Target: 3.5%
H-E-B: 2.3%
Safeway: 2.2%
I think the merger would result in greater competition, which would be good for consumers, which is probably why the FTC opposes it.
Small bag of chips, mostly empty air, for $5.79
**********
Walmart sells 13 & 13.5 ounces of their brand of chips
for $3.18.
Now the air space in a bag is to keep them from being
crushed when you get it. If not protected then you’d
get crushed chips like it or not..
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