Is Kroger buying Harris Teeter? If you’re like me and you heard those rumors today, well, it’s true!
The Kroger Company, looking to expand in the Southeast and mid-Atlantic regions of the United States, announced this morning that it would purchase Harris Teeter Supermarkets for $2.4 billion.
Kroger Harris Teeter Merger
According to an article in the New York Times about the Kroger Harris Teeter merger, “Kroger said it would finance the transaction with debt and assume Harris Teeter’s outstanding debt of about $100 million. Harris Teeter will continue to operate its stores as a subsidiary of Kroger and will continue to be led by Harris Teeter’s senior management team.”
From what I have read and understand, Harris Teeter will operate as a subsidiary of Kroger. There are no plans to close any Harris Teeter stores. And I know what you’re wondering: Are there plans to continue or discontinue the triple coupon events at Harris Teeter? I’m wondering the same thing. How will this affect coupon policies? As soon as I know, I’ll let you know!
How do you feel about a Harris Teeter Kroger merge? I’d love to hear your thoughts!
News Source: New York Times
