Kroger, Albertsons CEOs tout merger together in new video

"Kroger & Albertsons CEOs tout merger benefits despite antitrust probe. Lower prices, opportunities, job growth envisioned."

Benefits are extolled by McMullen and Sankaran, but an antitrust investigation is still imminent.

The CEOs of Kroger and Albertsons outlined the advantages their upcoming merger will bring to customers, employees, farmers, and communities in a new video that was filmed inside a King Soopers shop.

The merger of Kroger and Albertsons is about creating more opportunities, according to Rodney McMullen, CEO of Kroger. “More opportunities are created for our customers to find the food they love at lower prices, more opportunities are created for associates to grow their careers with us now and in the future, and the growth extends well outside of our doors,” he added. “We see more opportunities to provide communities across America with the food needed by families to thrive as well as more opportunities for our farmers to see more of their crops in more places.”

Vivek Sankaran, CEO of Albertsons Cos., uploaded the video on LinkedIn, echoing an editorial he and McMullen wrote for the Cincinnati Enquirer earlier this year. In the film, neither CEO gives an update on how the merger is going; instead, they try to sell the public on its prospective advantages.

In the video, Sankaran added, “For our customers, it’s about offering lower prices and more choices.” Together, we will offer a larger and better variety of the things our consumers need, want, and love, along with all the personalized deals that support families putting food on the table all over the world.

He made the remark in an effort to refute union claims that the merger would result in the loss of jobs and put pressure on the wages and benefits of union members. The merger will also open up chances for employees, he added.

According to Sankaran, “this combination will guarantee well-paying union jobs and give our associates the incredible opportunity to create the future of food retail.”

At the conclusion of the film, McMullen and Sankaran also congratulated the staff members of the companies for their work.

McMullen sees merger ‘on track’: report

The proposed $24.6 billion merger is currently the subject of an antitrust investigation, just as the Federal Trade Commission and Department of Justice look to be more closely investigating such mega-deals. The transaction is expected to close early next year. The National Grocers Association and the United Food and Commercial Workers unions have also spoken out against the merger.

The firms previously stated that in order to allay antitrust concerns and complete the transaction as agreed upon, they may liquidate as many as 650 locations countrywide.

According to McMullen, the merger is still on pace to receive regulatory permission and close on time. His comments were made in an interview with The Oregonian that was published this week. Additionally, he stated that Kroger has been in contact with a number of potential bidders for the stores that would be sold.

“We’ve been very pleased with the level of interest,” he told The Oregonian, saying that the business was looking for a buyer or purchasers with experience operating supermarkets, with sufficient funds to run the stores profitably, and who were committed to recognizing the current employee unions.

Several businesses, including Ahold Delhaize and Amazon/Whole Foods, have been mentioned in various stories as potential buyers.

A judge recently rejected a bid by six states to halt the merger, and there has been reports of a potential $146 million payoff for Albertsons executives in the event that the merger is successful.

According to earlier reports, the merger would bring together the two biggest traditional grocery chains in the country, which together run close to 5,000 shops, 66 distribution centers, and 52 manufacturing facilities. The combined businesses’ chairman and CEO would be McMullen.

>>> Kroger to Bring More Resources to 700,000+ Associates <<<

No responses yet

Leave a Reply

Your email address will not be published. Required fields are marked *