Kroger, Harris Teeter Announce Merger
July 10, 2013
Cincinnati-based The Kroger Co. and Matthews, N.C.-based Harris Teeter Supermarkets Inc. have entered into a definitive merger agreement. Under the agreement, Kroger will purchase all outstanding shares of Harris Teeter for $49.38 per share in cash. Harris Teeter’s store base includes 2,012 stores in Southeastern and mid-Atlantic markets and in Washington, D.C. Following closing, Harris Teeter will continue to operate its stores as a subsidiary of The Kroger Co., and will continue to be led by key members of Harris Teeter's senior management team. Kroger currently operates 2,419 supermarkets and multidepartment stores in 31 states under various banners, including Kroger City Market, Dillons, Jay C, Food 4 Less, Fred Meyer, Fry's, King Soopers, QFC, Ralphs and Smith's.