President John T. Niccollai
IMPORTANT MESSAGE FROM PRESIDENT JOHN T. NICCOLLAI FRIDAY, NOVEMBER 11, 2022
ALBERTSONS-KROGER PROPOSED MERGER UPDATE:
A meeting of the committee dealing with the proposed merger of companies Kroger and Albertsons was held on Thursday, November 10, 2022, virtually. Approximately 74 individuals were in attendance, including international staff from local unions where collective bargaining agreements were in effect from Kroger, Albertsons, or both. The meeting was chaired by International President Marc Perrone who discussed the engagement of professionals from Harvard University, The Wharton School of Business and Finance, legal specialists and merger experts who will work with our International and the committee to properly inform us throughout this proposed merger process. Local Union Presidents expressed their views concerning the detriments and benefits of the proposed merger along with President Perrone.
As your Local Union President, I indicated that we basically have three options as follows:
- To reject the merger.
- To agree to the merger.
- To continue to gather all information possible from all sources, including our experts, before we commit to any position.
Although no vote was taken concerning future action, the unions agreed that we need additional information before we can make an intelligent decision that will be so important to our members’ future and the future of our industry.
Another important consideration we really did not discuss in detail is the fact that Cerberus (the equity company that owns Albertsons) is eager to sell Albertsons and the fact that we have no idea if Albertsons will be sold non-union if this union merger is rejected.
Before President Perrone adjourned the meeting, he asked if anyone had any other comments. Hearing none, the meeting was adjourned with a statement that we will hold another meeting in several weeks.
We will continue to keep our Acme and Kings members informed as important matters arise.