The Federal Trade Commission on Monday announced that it is suing to block Kroger and Albertsons from merging.
The FTC is arguing that Kroger’s $24.6 billion acquisition of Albertsons, the largest supermarket merger in history, is anticompetitive and would lead to higher grocery prices for consumers as well as lower quality products and services. The FTC also contends it would hurt workers at grocery stores across the country.
“This supermarket mega merger comes as American consumers have seen the cost of groceries rise steadily over the past few years,” said Henry Liu, director of the FTC’s Bureau of Competition.
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“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,” he added.
This story is breaking and will be updated.
