A PYMNTS Company

Albertsons, Kroger CEOs Face US Senators

By  |  November 29, 2022

Executives at Kroger and Albertsons Companies are expected to face tough questions on Tuesday from lawmakers who worry the grocers’ planned $25 billion merger will push up food prices at a time when inflation is a concern.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Kroger Chief Executive Rodney McMullen and Albertsons’ chief, Vivek Sankaran, will go before the Senate Judiciary Committee’s antitrust panel, some of whose members have already criticized the deal.

    Senators Amy Klobuchar, chair of the antitrust panel, and Richard Blumenthal were among those who signed a letter to Federal Trade Commission Chair Lina Khan, saying the merger “raises considerable antitrust concerns.”

    Read more: Kroger, Albertsons CEOs Face US Congressional Panel On Merger

    The deal has also been criticized by unions and progressive groups, which have argued that the merger would exacerbate income inequality through job losses and eroding wages and have urged the FTC to block the deal. read more

    The merger is being discussed at a time when the Biden administration is determined to bring down inflation. US consumer prices did rise less than expected in October, pushing the annual increase below 8% for the first time in eight months. Food prices increased 0.6%.

    The companies, knowing the deal would be controversial and that antitrust enforcement has become tougher, offered an aggressive plan aimed at resolving concerns when they announced the deal, which would bring nearly 5,000 stores under one corporate umbrella, ranging from Safeway to Ralphs and Fred Meyer.