Why federal regulators want to stop grocery giants Kroger and Albertsons from merging
PBS News Hour - Segments
PBS NewsHour
4.1 • 1K Ratings
🗓️ 15 September 2024
⏱️ 6 minutes
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| 0:00.0 | What could be the largest grocery store merger in US history is at a do or die point |
| 0:05.3 | with closing arguments this week in a hearing over whether the deal could harm |
| 0:09.0 | consumers and raise prices by blocking competition. |
| 0:11.9 | Croker's nearly $25 billion purchase of Albertsons would bring together a number of well-known |
| 0:17.6 | grocery chains under one company, chains like Safeway, Harris Teeter, Ralphs, and Smiths. |
| 0:23.4 | Earlier this year, the Federal Trade Commission |
| 0:25.4 | filed a lawsuit to stop the deal, |
| 0:27.5 | arguing it would eliminate competition. |
| 0:30.4 | The companies say the merger would actually lower prices allowing them to compete with industry titans like Walmart Target Amazon and Costco |
| 0:38.4 | All this as both 2024 presidential campaigns focus their attention on |
| 0:43.4 | finding ways to lower food prices that have shot up nearly 30% since 2019. |
| 0:48.8 | Jacqueline Pizer is the retail reporter at the Washington Post. |
| 0:53.0 | Jacqueline, give us some context. |
| 0:54.6 | Where are Kroger and Albertsons these companies |
| 0:56.9 | on the list of grocery chains in this country? |
| 0:59.8 | And how much space do they occupy? |
| 1:01.8 | Yeah, so Kroger is the number two in sales for groceries across the country. |
| 1:07.1 | And Albert since is about number four tied with Amazon, which includes Whole Foods. |
| 1:11.0 | So they're two of the largest grocery chains throughout the |
| 1:13.3 | entire country and then combining together would make them still number two and |
| 1:17.6 | still a bit less than Walmart and sales but they'd still be a pretty big |
| 1:20.7 | be a big behemoth when it comes to traditional supermarkets. |
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