Acquisition Dated to 9-July-2013, Exactly 9 years before.
The supermarket chain, The Kroger Co has reached a definitive agreement to acquire the Harris Teeter Supermarkets group for 49.38 dollars per share in cash, which means valuing the operation at around 2,500 million dollars (1,955 million euros), according to the company in a statement.
The supermarket chain The KROGER ( KR.NY ) has reached a definitive agreement to acquire the HARRIS ( HRS.NY ) Teeter Supermarkets group for 49.38 dollars per share in cash, which implies valuing the operation at around 2,500 million dollars (1,955 million euros), according to the company in a statement.
The price offered by Korger represents a 33.7% premium over the closing price on January 18, 2013, the first day it was reported in the media that Harris Teeter was evaluating “strategic alternatives.”
Harris Teeter Scheduling portal can be accessed through the online portal ie., www.myhtspace.com
Kroger assures that this operation, whose terms have been approved by the boards of directors of both companies, will be financed entirely with debt, and announces that it assumes all the debt of Harris Teeter, which amounts to approximately 100 million dollars (78.2 million of euros).
According to the statement, this acquisition will provide Kroger with “an exceptional brand” and a base of 212 stores in attractive markets in the Southeast and Mid-Atlantic, as well as in Washington DC.
Harris Teeter stores, with revenues in 2012 of approximately $4.5 billion, are located primarily in high-growth markets, tourist areas, and university communities.