Peter Larkin, president and CEO of the National Grocers Association (N.G.A.), has released the following statement as an initial reaction to the announced settlement In Re Payment Card and Merchant Discount Antitrust Litigation:
“N.G.A. has been engaged in this litigation as a plaintiff for over seven years. We took this action on behalf of independent retail grocers to seek fundamental restructuring and reform of anti-competitive credit card interchange fees and payment rules. While we have knowledge of the framework of the settlement, we have not seen the final language or had a chance to assess its impact on our members. With the announced filing of the settlement agreement, N.G.A. staff and our executive committee and board of directors will now begin a thorough review process of the settlement agreement to determine whether or not the association will be in support.
N.G.A. is the national trade association representing the retail and wholesale grocers that comprise the independent sector of the food distribution industry. An independent retailer is a privately owned or controlled food retail company operating a variety of formats. Most independent operators are serviced by wholesale distributors, while others may be partially or fully self-distributing. Some are publicly traded but with controlling shares held by the family and others are employee owned. Independents are the true “entrepreneurs” of the grocery industry and dedicated to their customers, associates and communities, according to N.G.A., whose members include retail and wholesale grocers, state grocers associations as well as manufacturers and service suppliers.
