Kroger agrees to acquire Harris Teeter - Greenville, NC | News | Weather | Sports - WNCT.com

Kroger agrees to acquire Harris Teeter

Posted: Updated:

The Kroger Co. and Harris Teeter  Supermarkets, Inc. announced Tuesday a merger agreement under which Kroger will purchase all outstanding shares of Harris Teeter for $49.38 per share in cash for about $2.44 billion in total.

The price is a premium of 33.7% to the Harris Teeter closing price on January 18, 2013, the first day of media reports that Harris Teeter was thinking about a merger. The terms were approved by both companies' Boards of Directors.

Harris Teeter has 212 stores in the southeastern and mid-Atlantic markets and in Washington D.C. Harris Teeter also operates distribution centers for grocery, frozen and perishable foods in Greensboro, NC and Indian Trail, NC and a dairy facility in High Point, NC and is based in Matthews, NC.

Powered by WorldNow

3221 South Evans Street
Greenville N.C. 27834

Telephone: 252.355.8500
Fax: 252.355.8568
Email: newsdesk@wnct.com

Can't find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Media General Communications Holdings, LLC. A Media General Company.