President John T. Niccollai
IMPORTANT MESSAGE FROM PRESIDENT JOHN T. NICCOLLAI, OCTOBER 14, 2022
Kroger and Albertsons announce definitive merger agreement:
Our posting yesterday announced the fact that Kroger and Albertsons were discussing a merger agreement. Late last night that merger agreement came to fruition with the result being the intent on the part of Kroger to acquire all Albertsons’ companies. Informed sources have indicated that consummation of the merger would not be fully reached until some time in late 2023 or 2024. In the interim, operations will continue as they presently exist.
For our Brothers and Sisters employed by Acme or Kings, it will be business as usual during this time and more than likely, current management will remain in place.
As your President, I have often said “the best form of job security is a successful employer.” Obviously, Kroger has deeper pockets than Albertsons, and we project that if Kroger plans to become a dominant player in this marketplace, they will need to spend money, renovate, build, and grow. Expansion and growth are obviously positive factors and would enhance the opportunities presented to our Acme and Kings members.
We would caution everyone that we cannot view the present set of facts as a done deal. There are experts in the financial community that point out that many obstacles need to be overcome, including the approval of the Federal Trade Commission.
In the interim, we ask all our Brothers and Sisters from Acme and Kings to continue to demonstrate your strong work ethic which will illustrate to Kroger that we are the right people to partner with in their efforts to improve and grow the company.
We are sure there will be reports on future events concerning the merger agreement. Where those events are meaningful, we will make reports to the membership in an expeditious manner.
For those members who may have fears or concerns regarding their employment, at this point we would say the following, “Your Union views the situation as a positive step, and we are prepared to lead you and protect your interests as we move forward.”