Kroger responds to FTC lawsuit
By
Ryan Beckman
Kroger responds to FTC lawsuit
By
Ryan Beckman
Yesterday the Federal Trade Commission sued to block Kroger’s $24.6 billion acquisition of the Albertsons Cos. Inc. —the largest proposed supermarket merger in U.S. history — saying the deal is anticompetitive. In response, Kroger said blocking its merger with Albertsons will harm consumers and workers.
Kroger said its business model is to take costs out of the business and invest in lowering prices for customers. Kroger has reduced prices every year since 2003, resulting in $5 billion invested to lower prices and a 5 percent reduction in gross margin over this period.