Bernie Sanders blasts Kroger’s $24.6B Albertsons deal, calls it ‘absolute disaster’

CINCINNATI (ENQUIRER) – U.S. Senator Bernie Sanders has called Krogers latest move an “absolute disaster” after the Cincinnati-based grocery retailer announced its plan to take over Albertsons in $24.6 billion deal Friday, according to the Cincinnati Enquirer.

Combined sales of the two grocery chains are nearly $210 billion, putting Kroger around $10 billion in U.S. food sales from Walmart, the world’s largest grocer.

>>Kroger seeks to create grocery giant in Albertsons’ $20 billion bid<

In a tweet on Friday, Sanders called on the White House to reject the merger.

“At a time when food prices are skyrocketing due to corporate greed, it would be an absolute disaster to allow Kroger, America’s 2nd largest grocery store, to merge with Albertsons, the 4th largest grocery store. of America,” Vermont said. progressive wrote. “The Biden administration must reject this deal.”

Senator Elizabeth Warren reacted to fusion then rumor in an interview with MSNBC on Thursday. The Massachusetts Democrat says the United States hasn’t used antitrust laws in decades, the Enquirer reports.

“For example, with grocery stores, remember how many grocery stores there were before? And now what you have is a handful of giant chains,” Warren said.

The senator said Kroger earned nearly $900 million in the third quarter of 2021, more than three times the amount it earned in the same period in 2019.

“It’s because they have a big market dominance,” she said. “If we move forward in antitrust law, break up these giant corporations, then we get real competition, then we get markets that are really competitive.”

Kroger and Albertsons are expected to divest 100 to 375 stores to assuage antitrust concerns, leaving Kroger to operate more than 4,500 stores nationwide, according to the Investigator. Albertsons investors will own a separate company which will include the divested stores.

The two stores currently employ 710,000 associates and operate 4,996 stores, 66 distribution centers, 52 manufacturing plants, 3,972 pharmacies and 2,015 fuel centers in 48 states and Washington DC.

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