View or download a PDF of the letter here.

AFREF submitted comments to the Federal Trade Commission and Department of Justice on serial acquisitions and roll-up strategies and their impact on competition, the market, workers, consumers, and communities.  Serial acquisitions — including a large portion that fall below pre-merger reporting thresholds — have become a key business strategy for private equity firms to amass monopoly market power to disadvantage rivals and customers. Decades of unchecked mergers, driven largely by private equity, have consolidated economic power and raised consumer prices, suppressed workers’ wages, undermined the ability to form and sustain small businesses, and sapped vitality from our communities. These negative impacts have disproportionately harmed people of color, women, and people with limited English proficiency as individuals, families, and communities.