The CEOs of Kroger and Albertsons defended the proposed merger before the US Senate on Nov. 29, saying grocery shoppers still have plenty of options.
kroger Announced on October 14th Planned to buy Albertson. Both companies are his #1 and #2 specialty grocers respectively in America, and concerns were quickly raised about the impact the deal would have on competition.
testify before Rodney McMullen, CEO of Kroger, a subcommittee of the Senate Judiciary Committee, said: It is easy for customers to turn right and left. ”
Albertsons CEO Vivek Sankaran testified that a merger was necessary for the two companies to compete in a “totally transformed” market for food retail. “The best way to compete with megastores like Walmart and big-cap online companies like Amazon is to merge with Kroger,” Sankaran said.
Hearings Led by Senators Amy Klobuchar (D-Minnesota) and Mike Lee (R-Utah) to Pressure CEOs over Large Payments Made or Announced to Shareholders of Both Companies I put on
The CEO of a small chain store in Ohio offered a contrasting view. He said the deal would allow the combined company to further squeeze competitors like his with predatory pricing.
