The Kroger Company, Inc. announced on September 20th that it had completed the acquisition of Harris Teeter, Inc. for $2.
9 billion in cash and stock. This marks the second-largest acquisition in Kroger’s history and the largest in the grocery sector in over a decade.
The acquisition will create a company with a footprint of 2,600 stores in 27 states. Harris Teeter’s 2,000 stores in the Southeast, Midwest, and Western states will be merged into Kroger’s existing stores.
Kroger said that the acquisition will add $5 billion to its annual sales.
The Kroger Company is one of the largest grocery retailers in the United States. The company has a portfolio of grocery products, including Kroger, Fred Meyer, Ralphs, and Smith’s.
Kroger’s acquisition of Harris Teeter will create a company with a larger grocery store footprint and more diverse product offerings. The acquisition will also add $5 billion to Kroger’s annual sales.
