Merging supermarket companies Albertsons and Safeway Inc. are agreeing to sell 168 of their locations in order to settle the Federal Trade Commission’s charges that their plans would likely be anticompetitive.
The two companies’ proposed $9.2 billion merger was deemed by the FTC as a detriment to consumers in 130 local markets in Arizona, California, Montana, Nevada, Oregon, Texas, Washington and Wyoming.
“Absent a remedy, this acquisition would likely lead to higher prices and lower quality for supermarket shoppers in 130 communities,” FTC Chairwoman Edith Ramirez said in a Tuesday statement.
Under the settlement, Haggen Holdings, LLC will take over the most locations at 146, with the rest divvied out among several others.
The FTC voted 5-0 to issue their complaint as well as accept the proposed consent order for public comment. The agreement will be available for public comment for 30 days through Feb. 26, and then the commission will decide whether to finalize the order.