The Stanly News and Press (Albemarle, NC)

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July 15, 2013

Kroger buys Harris Teeter

Requests for details on future of Albemarle store still unanswered

Monday, July 15, 2013 — Harris Teeter will soon became part of the Kroger family following an announcement Tuesday that Harris Teeter will become a subsidiary of the Kroger brand. Despite the change, though, the Albemarle branch will remain open according to current reports.

“There are no plans to close stores, and associates will continue to have employment opportunities with both companies,” the companies announced in a press release.

The Stanly News & Press has attempted to contact officials with Harris Teeter to verify the Albemarle store’s status, but requests for comment were not returned as of Friday.

According to the definitive merger agreement, The Kroger Co. will purchase all outstanding shares of Harris Teeter for $49.38 per share in cash. The terms of the agreement were approved by boards of directors for both companies.

“We are excited to welcome Harris Teeter to the Kroger family,” Kroger Chairman and Chief Executive Officer David B. Dillon said in the press release.

“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. They share our customer-centric approach to everything we do — from store format and merchandising to innovative loyalty programs. This is a financially and strategically compelling transaction and a unique opportunity for our shareholders and associates.”

Though Harris Teeter Supermarkets, Inc. will become part of the Kroger family, it will not lose its name.

“We look forward to bringing together the best of Kroger and Harris Teeter while continuing to operate and grow the Harris Teeter brands. Together, we can continue to deepen our connections with customers across all of our markets,” Dillon said.

Thomas W. Dickson, Harris Teeter chairman of the board and CEO, added that he is “excited about becoming part of The Kroger Co., one of the best retailers in the U.S., while maintaining the Harris Teeter banner, our management teams, our new store growth plan, our distribution and manufacturing facilities in North Carolina as well as our headquarters in Matthews.”

Together the two companies will operate 2,631 supermarkets and employ more than 368,000 associates across 34 states and the District of Columbia.

To submit story ideas, contact Tiffany Thompson at (704) 982-2121 ext. 24 or tiffany@stanlynewspress. com.

 

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