Kroger to lower prices following merger with Albertsons Cos

Kroger announced that it will lower prices following its proposed merger with Albertsons Cos. The company stated that it lowered prices in previous mergers, that it invested over $125M to lower prices at Harris Teeter after its merger in 2014 and more than $100M to lower prices at Roundy’s after its merger in 2016. Kroger will invest $500M to lower prices following the merger with Albertsons starting day one following the transaction close. Kroger will also invest $1.3B to improve Albertsons’ stores following the merger.