TEAMSTERS OPPOSE KROGER-ALBERTSONS MERGER

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WASHINGTON, June 12, 2023 /PRNewswire/ -- The International Brotherhood of Teamsters is formally opposing the merger of The Kroger Company (NYSE: KR) and Albertsons Companies, Inc. (NYSE: ACI) currently under review at the Federal Trade Commission. The Teamsters represent more than 22,000 members across both companies' stores, distribution centers, and manufacturing plants nationwide.

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PR Newswire

Retrieved on:

Monday, June 12, 2023

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Tags:

Kroger, Federal Trade Commission v. Meta Platforms, Inc., International Brotherhood of Teamsters, KR, Language, Federal Trade Commission, Congress, Albertsons, Teamster, ACI, NYSE, Pension fund

Geotags:

DISTRICT OF COLUMBIA, CANADA, PUERTO RICO

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Summary

Key Points:

The Teamsters represent more than 22,000 members across both companies' stores, distribution centers, and manufacturing plants nationwide.
The decision to oppose the proposed merger comes after months of discussions with both Kroger and Albertsons to protect the most basic interests of Teamsters employed by the companies.
"In our discussions with Kroger and Albertsons, we made clear that our members need more than vague promises about their future," said Tom Erickson, Teamsters International Vice President and Director of the Teamsters Warehouse Division.
Founded in 1903, the International Brotherhood of Teamsters represents 1.2 million hardworking people in the U.S., Canada, and Puerto Rico.

TEAMSTERS OPPOSE KROGER-ALBERTSONS MERGER

Companies Fail to Deliver on Union Demands

WASHINGTON, June 12, 2023 /PRNewswire/ -- The International Brotherhood of Teamsters is formally opposing the merger of The Kroger Company (NYSE: KR) and Albertsons Companies, Inc. (NYSE: ACI) currently under review at the Federal Trade Commission. The Teamsters represent more than 22,000 members across both companies' stores, distribution centers, and manufacturing plants nationwide.

"Kroger and Albertsons management likes to talk the talk on job security when they're sitting in front of Congress but talk means little when it comes protecting our members," said Teamsters General President Sean M. O'Brien. "We expected better from these two longtime Teamster employers. Clearly, they are more interested in guaranteeing big payouts for management."

The decision to oppose the proposed merger comes after months of discussions with both Kroger and Albertsons to protect the most basic interests of Teamsters employed by the companies.

"In our discussions with Kroger and Albertsons, we made clear that our members need more than vague promises about their future," said Tom Erickson, Teamsters International Vice President and Director of the Teamsters Warehouse Division. "If either company were truly sincere about protecting our members, they would agree to recognize our existing union contracts, or agree to successorship language for any of our member units sold to third parties, once the merger is complete. Instead of finding a path to ensure our members succeed in lockstep with the companies, Kroger and Albertsons apparently want to go down this road alone."

Founded in 1903, the International Brotherhood of Teamsters represents 1.2 million hardworking people in the U.S., Canada, and Puerto Rico. Visit Teamster.org for more information. Follow us on Twitter @Teamsters and "like" us on Facebook at Facebook.com/teamsters.

Contact:
Daniel Moskowitz, (770) 262-4971
[email protected]

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SOURCE International Brotherhood of Teamsters