The Senate Judiciary Committee's Antitrust panel questioned the leaders about the $25 billion deal for Kroger to purchase Albertsons stores.
Kroger seeks to create grocery giant with $20B Albertsons bid
"Our commitments are to lower prices starting Day 1, continue investing in our associates and stores and doing more in our communities than either of us can do alone," said McMullen."The best way to compete with mega stores like Walmart and highly capitalized online companies like Amazon will be through a merger with Kroger," said Sankaran.
"Kroger lists Albertsons as one of its main competitors in 5 out of 10 of Kroger’s top markets covering a total of 546 Kroger stores," he said.A representative of the National Grocer's Association says the merger could put mom-and-pop grocery stores out of business. "Countless grocers have been put out of business in areas where we now consider food deserts through successful predatory pricing campaigns," he said.
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