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Dear John,
This just might be the most egregious merger yet.
Supermarket giant Kroger is in the process of finalizing a nearly $25 billion deal to acquire its jumbo-sized competitor Albertsons, combining their 5,000 supermarkets into one mega company – a marketing behemoth second in size only to Walmart, incorporating over 25 brands, including Safeway, Ralphs, Vons, Harris Teeter, and Pavillions.
If you thought the price of eggs was high before -- this deal would make it worse. Way worse.
This massive corporate merger could send food prices skyrocketing through the stratosphere. That’s because this deal would mean less consumer choice, and more opportunity for grocery stores to jack up prices even more than they’ve already been doing under the cover of inflation. Which you and I know is just an excuse to pass price increases through to you.
But here’s the good news: The Kroger-Albertsons deal is far from being fully baked. The Biden administration can still stop this deal!
Watch our new video and then take action by sending a direct message to the Federal Trade Commission to stop the Kroger-Albertsons mega-merger now!
The merger would kill competition in the market, especially hurting the few mom-and-pop grocery stores left across the country, by increasing supermarket closures in inner cities and rural areas to create “food deserts” with devastating consequences for the health and well being of working families.
With grocery bills already through the roof, Kroger buying Albertsons gets rid of the roof altogether. After all, what would stop this new goliath from continually raising prices if customers have nowhere else to shop?
A Kroger-owned mega company would also get away with paying workers even less than it already does -- because fewer competitors means less jobs, too. Already, according to a survey by Business Insider, 75% of Kroger workers were food insecure and 14% have experienced homelessness. In fact, one out of every five Kroger workers has relied on government aid to survive.
This is no secret to Kroger execs, either. Recently leaked internal documents reveal that the company has known about the plight of its workers for years.[1]
This is the story of monopolization, folks. Corporate consolidation is bad news for everyone except the super-rich.
Fortunately, several labor unions, produce growers, antitrust experts, state Attorneys General, and members of Congress, including Senators Elizabeth Warren and Bernie Sanders, oppose the merger. Let the Federal Trade Commission know you oppose it, too.
Tell the FTC to stop the Kroger-Albertsons mega-merger now!
We need more choices, not fewer.
Thank you for doing your part and demanding this mega-merger be stopped today.
Robert Reich
Inequality Media Civic Action
[1] Exclusive: Leaked Memo Reveals Kroger Executives Knew For Years That Most Workers Live In Poverty
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