Jannah Theme License is not validated, Go to the theme options page to validate the license, You need a single license for each domain name.

The Kroger-Albertson merger hearing is taking place in the District of Columbia

WASHINGTON, D.C. — The CEO of Kroger and Albertson’s testified before the Senate Judiciary Committee’s Antitrust Panel on Tuesday.

The congressional hearing comes after several US senators signed a letter to the Federal Trade Commission saying the merger raises serious antitrust concerns for the two national supermarket chains.

Kroger announced its plan to acquire Albertson’s back in October, saying the deal would improve its ability to better compete with the Amazons and Walmarts of the world.

With food safety a bipartisan issue, company executives and witnesses who testified faced tough questions about what the merger could mean for consumers.

“You don’t think you should be asking about the people you serve,” said U.S. Sen. Josh Hawley (R-Missouri). “Like, for example, the ability to provide food at a reasonable price to people who need it, the ability to actually offer a product that consumers want and need?”

Kroger CEO Rodney McMullen argued that the merger would allow them to invest millions of dollars to focus on lowering prices.

“By merging with Albertsons as an example,” McMullen said. “We’re going to be able to make such a positive impact and really build on what both of our companies have done individually.”

Sen. Dick Durbin (D-Illinois) pushed leaders to think about communities and the challenges this merger could create for rural and urban areas, such as whether fresh and healthy food is still a priority and cost-effective options for consumers.

The hearing lasted about two and a half hours, and according to Sen. Amy Klobuchar (D-Minn.), the record will remain open for another week.


Related Articles

Back to top button