Kroger to buy Harris Teeter chain in $2.4B deal

NEW YORK — Kroger, already the country's largest traditional supermarket operator, is expanding its reach in key southeastern and mid-Atlantic states by snapping up regional grocer Harris Teeter Supermarkets Inc. The $2.44 billion cash deal reflects Kroger, one of the country's largest grocery chains, announced Tuesday a $2.5 billion deal to acquire rival Harris Teeter. The move, which must be approved by federal regulators, would extend Kroger's reach, particularly in Virginia, Maryland and theHarris Teeter said it will continue to operate its 212 stores under its own name and maintain its headquarters in Matthews, Thomas W. Dickson, Chairman of the Board and Chief Executive Officer of Harris Teeter said in the NEW YORK — Kroger, already the country's largest traditional supermarket operator, is expanding its reach in key southeastern and mid-Atlantic

Read more ...