12/10/2024 | Press release | Distributed by Public on 12/10/2024 16:24
The U.S. District Court for the District of Oregon granted on December 10, 2024, the Federal Trade Commission's request for a preliminary injunction to prevent Kroger Company from acquiring Albertsons Companies, Inc. in what would be the largest supermarket merger in U.S. history. The FTC challenged the $24.6 billion deal alongside a bipartisan group of nine state attorneys general.
In response to the district court's order, Bureau of Competition Director Henry Liu issued the following statement:
"The FTC, along with our state partners, scored a major victory for the American people, successfully blocking Kroger's acquisition of Albertsons.
This historic win protects millions of Americans across the country from higher prices for essential groceries-from milk, to bread, to eggs-ultimately allowing consumers to keep more money in their pockets. This victory has a direct, tangible impact on the lives of millions of Americans who shop at Kroger or Albertsons-owned grocery stores for their everyday needs, whether that's a Fry's in Arizona, a Von's in Southern California, or a Jewel-Osco in Illinois.
This is also a victory for thousands of hardworking union employees, protecting their hard-earned paychecks by ensuring Kroger and Albertsons continue to compete for workers through higher wages, better benefits, and improved working conditions.
I want to also congratulate all of the FTC staff, including the Mergers IV team, for their hard work on this case."