The Kroger Co. acquired Harris Teeter Supermarkets, Inc. for approximately $2.5 billion, a transaction completed in January 2014, structured as all cash.
Harris Teeter Supermarkets, Inc. operates in Grocery retail, is based in Matthews, North Carolina. Kroger agreed to acquire Harris Teeter, a supermarket operator with 212 stores concentrated in fast-growing southeastern and mid-Atlantic markets and Washington, D.C., for $49.38 per share in cash. The transaction added a premium grocery brand with attractive store formats in complementary markets and brought Harris Teeter's ExpressLane online order-and-pickup capability. The merger was announced July 9, 2013 and completed January 28, 2014.
Harris Teeter's complementary base of 212 stores in high-growth southeastern and mid-Atlantic markets, vacation destinations and university communities, its strong brand and store formats, and its shared customer-centric approach.
We are excited to welcome Harris Teeter to the Kroger family. Harris Teeter is an exceptional company with a great brand, friendly and talented associates, and attractive store formats in vibrant markets run by a first-class management team.David B. Dillon, Chairman and Chief Executive Officer, The Kroger Co.
Advisory firms were not disclosed for this transaction.