Kroger purchasing rival Albertsons in $24.6B merger – One America News Network

October 14, 2022 Sophia Flores US 0

The Albertsons logo is displayed in front of an Albertsons grocery store on October 14, 2022 in Los Angeles, California. Top grocery retailer Kroger has agreed to acquire rival Albertsons for $24.6 billion. (Photo by Mario Tama/Getty Images)

OAN Newsroom
UPDATED 12:20 PM PT – Friday, October 14, 2022

The national supermarket chain, Kroger, has announced its plan to buy fellow grocery giant Albertsons in a $25 billion deal.

In a statement released on Friday, Kroger unveiled its plans to buy Albertsons for $34.10 a share. The deal would merge two of the largest grocery chains in a deal valued at $24.6 billion.

Kroger is the nation’s largest supermarket chain, employing 420,000 workers at 2,700 stores. Albertsons closely follows. The grocery store employs 290,000 employees at 2,300 stores.

Consumer Watchdogs, Unions and numerous Democrats have criticized the deal over anti-trust concerns. They have warned that a merger could hurt the consumer.

At a time when food prices are soaring as a result of corporate greed, it would be an absolute disaster to allow Kroger, the 2nd largest grocery store in America, to merge with Albertsons, the 4th largest grocery store in America. The Biden Administration must reject this deal.

— Bernie Sanders (@SenSanders) October 14, 2022