Kroger-Albertsons merger

Last updated

In October 2022, Kroger announced that it was buying grocery store chain Albertsons in a deal that valued the company at $24.6 billion. [1]

On November 29, 2022, the chief executives of the two companies went before the antitrust panel of the Senate Judiciary Committee to defend the merger. [2]

In May 2023, the UFCW International announced their opposition to the deal. [3]

In January 2024, Bob Ferguson, the Washington Attorney General filed a lawsuit to stop the merger. [4]

In February 2024, Phil Weiser the Colorado Attorney General filed a lawsuit in an attempt to stop the merger due to his belief that it would greatly reduce competition and harm Coloradans. [5]

Related Research Articles

Albertsons Companies, Inc. is an American grocery company founded and headquartered in Boise, Idaho.

<span class="mw-page-title-main">Kroger</span> American retail company

The Kroger Company, or simply Kroger, is an American retail company that operates supermarkets and multi-department stores throughout the United States.

<span class="mw-page-title-main">Cigna</span> American health services organization

The Cigna Group is a for-profit American multinational managed healthcare and insurance company based in Bloomfield, Connecticut. Its insurance subsidiaries are major providers of medical, dental, disability, life and accident insurance and related products and services, the majority of which are offered through employers and other groups. Cigna is incorporated in Delaware.

<span class="mw-page-title-main">Safeway</span> American supermarket chain owned by Albertsons Companies, Inc

Safeway, Inc. is an American supermarket chain. The chain provides grocery items, food and general merchandise and features a variety of specialty departments, such as bakery, delicatessen, floral and pharmacy, as well as Starbucks coffee shops and fuel centers. It is a subsidiary of Albertsons after being acquired by private equity investors led by Cerberus Capital Management in January 2015. Safeway's primary base of operations is in the Western United States with some stores located in the Mid-Atlantic region of the Eastern Seaboard. The subsidiary is headquartered in Pleasanton, California.

Cencora, Inc., formerly known as AmerisourceBergen, is an American drug wholesale company and a contract research organization that was formed by the merger of Bergen Brunswig and AmeriSource in 2001.

SuperValu, Inc., was an American wholesaler and retailer of grocery products. The company, formerly headquartered in the Minneapolis suburb of Eden Prairie, Minnesota, had been in business since 1926. It is a wholly owned subsidiary of United Natural Foods (UNFI).

<span class="mw-page-title-main">Cub (supermarket)</span> American supermarket chain owned by United Natural Foods

Cub is an American supermarket chain. It operates stores in Minnesota and Illinois. The company is a wholly owned subsidiary of United Natural Foods, based in Providence, Rhode Island.

<span class="mw-page-title-main">Rite Aid</span> American drugstore chain

Rite Aid Corporation is an American drugstore chain based in Philadelphia, Pennsylvania. It was founded in 1962 in Scranton, Pennsylvania, by Alex Grass under the name Thrift D Discount Center. It is the third-largest drugstore chain in the United States, with over 2,000 stores, and ranked No. 148 in the Fortune 500 in 2022.

UnitedHealth Group Incorporated is an American multinational health insurance and services company based in Minnetonka, Minnesota. Offering insurance products under UnitedHealthcare, and health care services and care delivery aided by technology and data under Optum, it is the world's eleventh-largest company by revenue and the largest health care company by revenue.

<span class="mw-page-title-main">Smith's Food and Drug</span> Supermarket chain and subsidiary of Kroger

Smith's Food and Drug, or simply Smith's, is an American regional supermarket chain that was founded by Lorenzo Smith in 1911 in Brigham City, Utah. Headquartered in Salt Lake City with stores in Utah, Nevada, New Mexico, Arizona, Montana, Idaho, and Wyoming, Smith's became a subsidiary of Kroger in 1998.

<span class="mw-page-title-main">King Soopers</span> Colorado supermarket chain

King Soopers is an American supermarket chain located in the Rocky Mountains of the United States. It started as its own brand, and is now a subsidiary of Kroger. It is headquartered in Denver, Colorado.

<span class="mw-page-title-main">American Stores</span> American grocery store holding company

American Stores Company was an American public corporation and a holding company which ran chains of supermarkets and drugstores in the United States from 1917 through 1998. The company was incorporated in 1917 when The Acme Tea Company merged with four small Philadelphia-area grocery stores (Childs, George Dunlap, Bell Company, and A House That Quality Built) to form American Stores. In the following eight decades, the company would expand to 1,575 food and drugstores in 38 states with $20 billion in annual sales in 1998.

Endo International plc is an American Irish-domiciled generics and specialty branded pharmaceutical company that generated over 93% of its 2017 sales from the U.S. healthcare system. While Endo's management, operations, and customers are almost exclusively U.S.–based, in 2013 Endo executed a corporate tax inversion to Ireland to avoid U.S. corporate taxes on their U.S. drug sales, and to avail of Ireland's corporate tax system.

Haggen Food & Pharmacy is a grocery retailer in Washington State.

American Airlines Group Inc. is an American publicly traded airline holding company headquartered in Fort Worth, Texas. It was formed on December 9, 2013, by the merger of AMR Corporation, the parent company of American Airlines, and US Airways Group, the parent company of US Airways. Integration was completed when the Federal Aviation Administration granted a single operating certificate for both carriers on April 8, 2015, and all flights now operate under the American Airlines brand.

Vivint Solar was an American provider of photovoltaic solar energy generation systems, primarily for residential customers. The company was established in 2011 as an offshoot of home automation and security company Vivint and was headquartered in Lehi, Utah. The company primarily used a power purchase agreement (PPA) business model where Vivint Solar installed and maintained a solar system on a customer's home, then sold power to the customer at an agreed upon rate for a set term. In 2020, the company was purchased by Sunrun, another solar company primarily focused on the PPA business model for $3.2 billion.

Gemini Trust Company, LLC (Gemini) is an American cryptocurrency exchange and custodian bank. It was founded in 2014 by Cameron and Tyler Winklevoss.

<span class="mw-page-title-main">Makan Delrahim</span> Iranian-American attorney and lobbyist (born 1969)

Makan Delrahim is an Iranian-American attorney and lobbyist. From 2017 to 2021, Delrahim served under President Donald Trump as Assistant Attorney General for the Department of Justice Antitrust Division.

<i>United States v. Google LLC</i> (2020) Antitrust case alleging Google illegally dominates internet search

United States v. Google LLC is an ongoing federal antitrust case brought by the United States Department of Justice (DOJ) against Google LLC on October 20, 2020. The suit alleges that Google has violated the Sherman Antitrust Act of 1890 by illegally monopolizing the search engine and search advertising markets, most notably on Android devices.

References

  1. Kang, Jaewon. "Kroger to Buy Albertsons in $24.6 Billion Deal That Would Create New Grocery Giant". WSJ.
  2. "Albertsons, Kroger CEOs defend $25 bln merger to U.S. Senate committee | Reuters". Reuters .
  3. Kang, Jaewon. "Biggest Grocery Union Opposes $20 Billion Kroger-Albertsons Deal". WSJ.
  4. Selyukh, Alina (January 15, 2024). "Warning of higher grocery prices, Washington AG sues to stop Kroger-Albertsons merger". NPR.
  5. "Colorado attorney general sues to block Kroger-Albertsons merger". February 14, 2024.