12/13/2024 | Press release | Distributed by Public on 12/13/2024 18:50
Carson City, NV - Today, Nevada Attorney General Aaron D. Ford released a statement after a federal judge halted the merger of grocery store chains Kroger and Albertsons, finding that a challenge is likely to succeed on the merits. Kroger and Albertsons are the largest supermarket chains in the country, and the proposed merger presented a significant risk of reduced competition and higher food prices nationwide.
"I am very pleased with the judge's decision today, and I believe this is the first step toward ensuring consumers are protected from increased grocery prices that will place a further burden on the average Nevada's wallet," said AG Ford. "We will continue to work with our partners and the FTC to ensure this anti-consumer merger does not go forward."
In February 2024, AG Ford, the Federal Trade Commission (FTC), and a bipartisan coalition of states, announced the filing of a lawsuit that challenges the proposed merger of Kroger and Albertsons.
The lawsuit seeks to block the proposed Albertsons-Kroger merger, alleging it is in violation of the federal Clayton Act which prohibits the acquisition of assets where the effect of such acquisitions may substantially lessen competition or create a monopoly. Businesses facing less competition have the ability to charge higher prices without providing improvements to the quality of goods.
In the buildup to the lawsuit's filing, AG Ford held a series of listening sessions with the community about the proposed merger, with FTC Chair Lina Khan in attendance for several. In addition, the Office of the Attorney General took thousands of statements regarding the merger online through a dedicated portal.
In bringing the lawsuit, AG Ford joined the FTC, as well as the attorneys general of Arizona, California, Illinois, Maryland, New Mexico, Oregon, Wyoming and the District of Columbia.
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