12/10/2024 | Press release | Distributed by Public on 12/10/2024 16:13
OAKLAND - California Attorney General Rob Bonta today issued a statement after a federal judge halted the merger of Kroger and Albertsons, finding that a challange is likely to succeed on the merits. Kroger and Albertsons are the largest supermarket chains in the country, and the proposed merger presented a significant risk of reduced competition and higher food prices nationwide. In February 2024, Attorney General Bonta joined the Federal Trade Commission and a bipartisan coalition of states in filing a lawsuit in the U.S. District Court in Portland to challenge the proposed merger.
"Halting the Kroger and Albertsons megamerger is a win for California households and communities. As many families continue to feel the burden of inflation, fighting corporate consolidation that threatens to increase grocery prices is more important than ever," said Attorney General Bonta. "In some markets in Southern California, Kroger-Albertsons would have been the only one-stop grocery option, leaving consumers limited choice over where to shop - and for workers in this industry, where to work. I am tremendously proud of the work of my office and our partners across the state and country in raising the alarm about what this merger would have meant for our communities."
In California specifically, the proposed Kroger-Albertsons merger was expected to further consolidate the highly concentrated retail grocery market in Southern California, leading consumers to face fewer choices and higher prices. The merger was also expected to reduce the ability of unions to negotiate working conditions at these stores, impacting thousands of employees in California.