Schrier: Kroger-Albertsons deal bad for consumers, farmers
Aug 3, 2024, 10:45 AM
Signs for Fred Meyer, QFC stores, both owned by Kroger. (MyNorthwest file photos)
(MyNorthwest file photos)
Washington Congresswoman Kim Schrier is upping her criticism about the proposed merger between Kroger — which owns Fred Meyer and QFC — and Albertsons, which operates Safeway stores.
Kroger and Albertsons insist they need to combine forces to be able to compete with Amazon, Walmart and other companies.
“That’s a bunch of baloney,” Schrier told KIRO Newsradio on Thursday. “We know that when stores merge, competition goes down. There is no good faith in this merger.”
She said the corporate marriage would result in fewer stores, less choice and higher prices.
“This feels like a bit of a scam, maybe even more than a bit, because when these stores come in, they will likely fail and will then be bought up by Kroger-Albertsons and then we will have one company controlling the vast majority of these supermarkets,” Schrier said.
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Schrier said Kroger and Albertsons are already making plenty of money.
“Kroger had a 45% increase in profit just in the year 2023,” Schrier said. “We are all feeling it when we got to the grocery store.”
From their perch, Kroger and Albertsons said the merger will be good for consumers.
“The combination of Kroger and Albertsons Companies brings together two purpose-driven organizations to deliver superior value to customers, associates, communities and shareholders,” Rodney McMullen, Kroger chairman, posted on the company’s website.
Impact: These 124 Washington stores will be impacted by the Kroger-Albertsons merger
Schrier said the deal would be bad for her constituents, not just shoppers, but also farmers.
“Supermarkets are already putting down pressure when they buy produce like apples from the 8th District and then they’re selling them to us at higher prices and so we are just seeing corporate greed all along the way,” she said.
Roadblocks remain before the deal can be completed. Finalization has been paused until a Colorado District court can rule on a lawsuit that’s been filed to stop the merger. Attorneys General in several states — including Washington — and the Federal Trade Commission are suing to stop the merger.
Heather Bosch is an award-winning anchor and reporter on KIRO Newsradio. You can read more of her stories here. Follow Heather on X, or email her here.
Contributing: Bill Kaczaraba, MyNorthwest
