Harris Teeter sale shouldn't be noticed by customers

Jan. 29, 2014 @ 04:03 PM

Customers of Harris Teeter Supermarkets Inc. may not notice the change, but their grocery store is under new ownership as of this week.
Cincinnati-based Kroger Co. has completed its purchase of Harris Teeter, based outside of Charlotte. The companies announced the $2.44 billion deal in July and completed the transaction Tuesday.
“Harris Teeter will continue to operate its stores under the Harris Teeter brand name as a subsidiary of The Kroger Co.,” Kroger announced.
Harris Teeter will keep running its stores as a Kroger subsidiary and stay headquartered in Matthews. No Harris Teeter grocery stores are closing — the company has two locations in High Point. Its other local holdings include the Hunter Farms dairy plant on N. Main Street and a grocery distribution center in Greensboro.
Kroger announced that employees with the merged supermarket chains “will continue to have employment opportunities.”
Harris Teeter has 227 stores in the Southeast and Mid-Atlantic. The combined company will operate more than 2,600 supermarkets and employ nearly 370,000 people across 34 states and the District of Columbia.
Some shareholders tried to stop the deal by filing a lawsuit that claimed Harris Teeter failed to get a high enough premium for its closing price. The stock’s sale price was 1.8 percent higher than the closing price the day before and 34 percent higher than when rumors of a deal began months earlier. Kroger will pay $49.38 for each of its rival supermarket chain’s shares.