Kroger announced Friday that it plans to buy Albertsons in a nearly $25 billion deal that could change the US retail industry and impact how millions of customers buy their groceries.

The deal, which is expected to close in 2024, would combine two of the largest supermarket chains in the country and create one of its largest private employers. The two companies have a combined 710,000 workers – most of them unionized in an industry with low union rates – nearly 5,000 stores and more than $200 billion in sales. The companies say they reach 85 million households.

The retail industry has consolidated in recent years, and merging would give the companies greater scale to fend off competition from Amazon (AMZN), Walmart (WMT) and other retail giants. Traditional supermarkets have been pressured by these companies and others – discount chains such as Dollar General (DG) and Aldi, warehouse clubs like Costco (COST), and online grocers.

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Sen. Bernie Sanders called it a “absolute disaster” and called on the Biden administration to reject the deal. The American Economic Liberties Project, an anti-monopoly organization, said the “merger would be disastrous for market competition, small businesses, and especially – consumers’ pockets.”

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