UFCW LOCALS’ STOP THE MERGER COALITION APPLAUDS ALBERTSONS’ DECISION TO TERMINATE MERGER TRANSACTION WITH KROGER

Press Release UFCW Locals 7, 324, 400, 770. 1564 and 3000

FOR IMMEDIATE RELEASE: December 11, 2024

Contact: Tom Geiger, UFCW 3000, 206-604-3421

The Coalition Calls on Both Companies to Use Their Unspent Billions to Invest in Workers, Customers and Stores

(December 11, 2024) – Today, UFCW local unions representing more than 100,000 grocery store employees working at Albertsons and Kroger-owned stores in 14 states and the District of Columbia released the following statement regarding Albertson’s decision to terminate their proposed merger with Kroger:

“Following yesterday’s court rulings blocking the proposed Kroger and Albertsons mega-merger, we welcome Albertsons’ decision to terminate the merger transaction, meaning there will be no further court appeals seeking to complete the merger. We encourage the leaders of both Kroger and Albertsons to invest resources in their stores by investing in adequate staffing so customers are better served and workers can safely and effectively operate the stores and stock the shelves. These investments will result in higher sales and improved satisfaction by shoppers and employees alike. 

“Now is not the time to waste billions on share buybacks or expanded dividends to Wall Street investors. Albertsons already wasted $4 billion in their premature, massive payout to wealthy shareholders back in January of 2023 when the merger transaction began. Meanwhile, Kroger appears to have wasted more than $1 billion on costs associated with the failed merger transaction itself. Now is the time for Kroger and Albertsons executives to honor their promises to consumers and workers under oath during the trials by investing in lower prices, higher wages, and other investments to improve competitiveness. 

“For over 100,000 Kroger and Albertsons workers across the Western United States represented by UFCW locals 7, 324, 770, 1564, and 3000 who are in the midst or about to start negotiating collective bargaining agreements, these billions of dollars will go a long way in resolving problems around staffing, safety, and low wages. It’s also money that could be well spent on cutting prices for customers who have suffered from price gouging over the last several years. This kind of strategic investment is one of the necessary steps to address the underlying inequities and injustices in our nation’s food supply system.”