Federal regulators have granted Kroger clearance to close on its $2.5 billion acquisition of North Carolina-based grocer Harris Teeter. Kroger officials said they expect the deal will close by the end January. The deal was first announced July 9.
Kroger is already the nation’s largest supermarket chain with 2,400 stores and $96 billion in annual sales. With the acquisition of Harris Teeter, Kroger will extend its reach into the Southeast and mid-Atlantic states. Harris Teeter, with $4.7 billion in sales, operates 216 stores in North Carolina, South Carolina, Virginia, Georgia, Tennessee, Maryland, Delaware, Florida, and the District of Columbia.
Harris Teeter shareholders will receive $49.38 in cash for each share of Harris Teeter common stock they own.
