Kroger CEO Rodney McMullen discussed the company's proposed merger with rival grocery chain Albertson's with CNBC's Jim Cramer, saying he's confident about the deal despite the Federal Trade Commission's recent crackdown on mergers.
The rival grocers announced their plans to merge in October, proposing a $24.6 billion deal.
McMullen said he thinks the government will approve the merger, saying it will only benefit customers and employees.
The merger would allow the companies to capture nearly 16% of the U.S. grocery market, according to market researcher Numerator.
Kroger is currently the second-largest grocer by market share in the United States, behind Walmart , and Albertsons is fourth, after Costco, Numerator also shows.
Persons:
Rodney McMullen, CNBC's Jim Cramer, McMullen, We've, we'll
Organizations:
Federal Trade, Kroger, Walmart, Albertsons, Costco
Locations:
United States