PORTLAND, Ore. (AP) — The chief executive officer of Kroger insisted Wednesday that merging with rival Albertsons would allow the two supermarket companies to lower prices and more effectively compete with retail giants like Walmart and Amazon.
Kroger CEO Rodney McMullen argued in favor of what would be the largest grocery chain merger in U.S. history while testifying during a federal court hearing in Oregon on the U.S. government’s request for a preliminary injunction that would block the $24.6 billion deal.
“The day that we merge is the day that we will begin lowering prices,” McMullen said while under questioning by a lawyer representing his company.
The two companies proposed joining forces in October 2022 after Kroger agreed to purchase Albertsons. The Federal Trade Commission sued early this year to prevent the deal, alleging the merger would eliminate competition and raise grocery prices at a time of already high food price…
