CINCINNATI (Cincinnati Business Courier) – Kroger Co. CEO Rodney McMullen doubled down at the company’s annual meeting on why its planned $24.6 billion acquisition of Albertsons Cos. Inc. actually improves the grocery market for customers.
Downtown Cincinnati-based Kroger (NYSE: KR), the nation’s largest operator of traditional supermarkets, agreed in October 2022 to acquire Boise, Idaho-based Albertsons, the second-largest traditional supermarket operator. But the deal that would be the largest grocery store merger in U.S. history faces opposition from the Federal Trade Commission, which has sued to block it on antitrust grounds. It argues it will hurt customers’ choices and make the grocery landscape less competitive.
But McMullen told shareholders at the June 27 annual meeting, conducted online, that the deal will actually do the opposite.
Read the full story from the Cincinnati Business Courier.
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