Supermarket chain Kroger plans to lower prices after merger
United States supermarket chain Kroger plans to lower grocery prices by $1 billion after merging with Albertson, the second-largest U.S. grocery chain. A $25 billion deal that has received backlash from several state representatives.
Originally, Kroger had promised to lower prices by $500 million at all Albertsons locations.
The merger between the two largest chains was first announced in 2022 but has received backlash and faced several antitrust lawsuits over concerns that it would hike up grocery prices across stores.
Washington's state attorney, Bob Ferguson, was the first to try and put a halt to Kroger's acquisition. The Attorney General filed an antitrust lawsuit in King County Superior Court, not a surprise to many since he'd voiced his discontent with the merger since its announcement.
The merger has not moved forward due to a Colorado District Court ruling filed to block the deal. The trial is set to begin on Sept. 30, Reuters reports.