As Kroger faces regulatory scrutiny over its planned acquisition of Albertsons, the company says it will lower prices following the merger. Specifically, Kroger says it will invest $500 million to lower prices following the close of the deal, and invest $1.3 billion to improve Albertsons stores.
Kroger added that it invested more than $125 million to lower prices after its 2014 merger with Harris Teeter, and more than $100 million to lower prices at Roundy’s after its 2016 merger. Plus, the company says it invested about $2.5 million per store for improvements in each case.
After the deal closes, Kroger said it plans to provide its continuing education benefits to 700,000 part- and full-time associates and invest an incremental $1 billion to raise wages and benefits. Kroger also said it will protect union jobs and that no stores will close or front-line employees will lose their jobs as a result of the merger.
