UFCW 1167 Albertsons/Kroger Proposed Merger Information
9/8/23 - Message from UFCW Local 1167 President Joe Duffle.
Kroger, Albertsons Porposed Divestiture Plan with C&S Wholesale Grocers, LLC in Connection with Merger to sell over 400 stores for nearly $2 billion:
UFCW Local 1167 has firmly and consistently opposed the proposed merger between Kroger and Albertsons. While today, Kroger and Albertsons announced a self-proposed Divestiture Plan with C&S Wholesale Grocers, LLC, the proposed merger has not yet received FTC Approval.
UFCW 1167 does not believe this deal will appease the Federal Trade Commission and the various State Attorneys General and Secretaries of states from across the country expressing concerns and requesting the FTC to block the Kroger-Albertsons merger.
We will keep you informed on every step of the process as more information becomes available.
UFCW Local 1167's concern is to protect our members' jobs, wages, pensions, and benefits. We will use every resource to enforce our collective bargaining agreements and protect our members.
FACTS ABOUT KROGERS PROPOSAL:
- Kroger and Albertsons have announced a divestiture plan with C&S Wholesale Grocers, LLC.
- The proposal has C&S buying 413 stores and additional assets across 17 states and the District of Columbia.
- Up to 237 additional stores may also be sold to C&S as part of the deal, depending on the results of the regulatory review of the merger with the Federal Trade Commission (FTC).
- The stores not purchased as part of this deal would be merged into the Kroger brands.
- C&S has agreed to maintain our collective bargaining agreements with the companies.
WHAT WE'RE DOING ABOUT IT:
- We're requesting all documents relating to this PROPOSED Merger.
- We have requested a list of stores proposed to be sold on multiple occasions.
- We will continue to gather information on how this will affect our hard-working members at these companies and will keep you informed on every step of the process.
- We're continuing to engage with the FTC to raise concerns about the overall merger and today's proposed divestiture plan and urge the regulators to strongly consider the negative impacts on Local 1167 members and the communities that they serve.
- The UFCW International and UFCW Local unions continue to meet with FTC consultants and attorneys to coordinate efforts to protect UFCW members throughout this process.
For up to the minute updates: Visit the links below
Download UFCW 1167 Mobile App *Members only:
Facebook
If you have any questions regarding the proposed Kroger/Albertsons merger please contact your Union Representative.
8/14/23 -Tell the FTC: Essentials Workers Oppose the Kroger Albertsons megamerger.
How would the Kroger Albertsons megamerger hurt essential workers?
- LOWER WAGES: The Economic Policy Institute projected that the merger would lower wages for 746,000 essential grocery store workers in over 50 metropolitan areas across the U.S. or one in four grocery workers in the United States.
- HIGHER FOOD PRICES: Studies have shown that consumer prices have historically risen when grocery retailers merge in concentrated markets.
- FEWER STORES: When corporations merge, they often have to close or divest stores.
It's not too late.
The FTC has the power to take action to block this megamerger and protect wages and jobs.
Make your voice be heard!
Text 'MERGER' to 83071 or sign the petition at https://p2a.co/SjfCota
4/17/23 - Kroger, Albertsons may need to divest even more stores. In order for the proposed merger deal to go through, the companies may need to sell more stores than originally planned, according to a new report. To read full article click here
12/19/22 - Washington puts indefinite hold on Albertsons’ $4-billion dividend as FTC begins asking questions
The temporary restraining order will remain in place until the court takes further action.
To read full article, click here
12/16/22 - Breaking News: Washington Supreme Court grants UFCW's request to continue blocking Albertsons from paying its $4 billion dividend.
The temporary restraining order will remain in place until the court takes further action.
To read the Attorney General of Washington State Twitter post click here
To read the order click here
12/10/22 - A state court in Washington on Thursday said it would extend a temporary block that prevented Albertsons Companies Inc (ACI.N) from paying its shareholders a $4 billion dividend before the grocery chain closes its proposed deal with rival Kroger Co.
UFCW Local 1167 does not believe the proposed Kroger/Albertsons merger would benefit members and will do whatever is necessary to ensure UFCW members' voices are heard." click here to read reuters article
12/7/22 - Albertsons-Kroger merger faces battle on two fronts here
12/2/22 - Albertsons, Kroger CEOs Defend $25 Billion Merger to Senate Committee here
11/2/22 - Three attorneys general file lawsuit seeking to block Albertsons' $4 bln payout. To read more click here
11/1/22 - Presidents from UFCW Locals from all across the country met with grocery executives on October 27, 2022, in Chicago to discuss the $4 billion special dividend to Albertsons shareholders and the proposed merger with Kroger.
The corporate executives gave a rosy forecast of the merger and dividend payout, but we are highly skeptical, especially concerning Albertsons' giveaway of 4 billion dollars.
Rob Bonta, the Attorney General of California, along with his colleagues in the District of Columbia, Arizona, Idaho, Illinois, and Washington, wrote a letter demanding that Albertsons delay the dividend payout. Bonta's and the Attorneys General's statement reads in part:
"The attorneys general express their strong concern with Albertsons and Kroger's joint announcement that Albertsons will pay stockholders a cash dividend of up to $4 billion on November 7, 2022. The planned dividend payment would substantially impact Albertsons cash flow, making it difficult to continue to compete with Kroger ahead of the merger."
We are currently working on many levels to get as much information as possible to make decisions that are in the best interests of UFCW members and their families.Â
Check back to this space for futue updates regarding Albertsons propsed merger with Kroger
To read the UFCW'S initial October 14, 2022 Statement regarding the Albertsons/Kroger proposed merger, click here