ALBUQUERQUE, N.M. – The New Mexico Department of Justice is working with the Federal Trade Commission to stop a deal that could see the price of your everyday pantry staples go up even more.

“We are concerned about the proposed merger of the number one and number two grocery chains in this country,” said New Mexico Attorney General Raúl Torrez. 

Torrez is talking about the proposed $24.6 billion deal for Kroger to buy all of Albertson’s assets. 

Torrez says if the two grocery giants merge, prices are guaranteed to keep going up. 

“In the last four years, food prices have gone up 25%. It’s one of the highest price increases in the last several decades,” said Torrez. 

Torrez and several other state attorneys general are working on a new lawsuit with the Federal Trade Commission to stop the merger. 

According to the lawsuit, Kroger made over $148 billion in revenue in 2022. The company even owns the Smith’s stores in New Mexico.

Albertson’s made around $72 billion in revenue in 2022. 

“By reducing competition, you’re going to increase pressure on those grocers and on the communities that they serve. And one of the things that I think, you know, we have to acknowledge is New Mexico is still a very poor state, we have a lot of families who struggle to make ends meet,” Torrez said. 

Torrez says another concern is for the workers at each chain. With less competition, he says competitive wages will be harder to come by. 

The other issue is this legal battle won’t be a quick one.

“Antitrust litigation is notoriously slow. It takes a very long time to resolve these things. We will certainly be actively working with the Federal Trade Commission and our partners and neighboring states as this litigation moves forward,” said Torrez. 

Torrez says, in New Mexico, there’s been concern from local labor unions about the merger.