New Mexico’s far-left Democrat Attorney General Raúl Torrez is joining the state’s far-left Democrat Secretary of State Maggie Toulouse Oliver in trying to mess up the proposed $24.6 billion merger between Kroger and Albertsons, joining a multi-state lawsuit spearheaded by the Federal Trade Commission (FTC).
The legal challenge aims to halt the merger on claims that it would stifle competition, potentially leading to higher consumer prices, diminished quality, and adverse effects on employees. The FTC, expressing concerns over the implications for both consumers and workers, filed both a lawsuit and an administrative complaint to contest the merger.
Kroger, known for its diverse portfolio of nearly 1,300 stores across various brands in the U.S., including Smith’s and Price-Rite in New Mexico, seeks to acquire Albertsons, which also operates under multiple regional brands such as Albertsons Markets and Safeway within the state.
Attorney General Torrez said, “My office proudly announces its collaborative stance alongside multiple states and the Federal Trade Commission in a collective effort to challenge and prevent this anti-competitive merger that threatens fair market dynamics.”
The lawsuit has garnered support from a coalition of attorneys general from Arizona, California, the District of Columbia, Illinois, Maryland, Nevada, Oregon, and Wyoming, all opposing the merger on the FTC’s platform.
Last August, Toulouse Oliver added her signature to a letter co-signed by six other secretaries of state, rejecting the $24.6 billion merger — a direct attack on the free market.
The letter highlights potential repercussions: “If the merger goes through, the lack of competition gives Kroger-Albertsons substantial power to dictate prices that harm growers and shippers who will be forced to cut wages for their own workers.”
However, Kroger’s perspective on the matter contradicts the officials’ bloviated concerns. A spokesperson for Kroger conveyed that the opposite is likely to occur if the merger progresses. They contend that prices would decrease, consumer choice would expand, and wages would increase as a result of the merger. The spokesperson also criticized the opposition, suggesting that the real beneficiaries of preventing the merger’s completion would be large, non-unionized competitors like Walmart and Amazon. Kroger assured that the merger would not lead to layoffs or closures of stores, distribution centers, or manufacturing facilities.