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Kroger's southern food fix.

THE KROGER CO. IS GETTING A BIT MORE SOUTHERN with its pending purchase of Harris Teeter Supermarkets. The Matthews, N.C.-based chain operates 212 upscale Harris Teeter stores primarily in high-growth markets, vacation destinations and university communities in North Carolina, Virginia, South Carolina, Maryland, Tennessee, Delaware, Florida, Georgia and the District of Columbia. The chain, which had revenues of approximately $4.5 billion for fiscal year 2012, also operates distribution centers for grocery, frozen and perishable foods in Greensboro, N.C., and Indian Trail, N.C., as well as a dairy facility in High Point, N.C.

"We are excited to welcome Harris Teeter to the Kroger family," says David B. Dillon, chairman and CEO of Cincinnati, Ohio-based Kroger. "Harris Teeter is an exceptional company with a great brand, friendly and talented associates, and attractive store formats in vibrant markets run by a first-class management team. They share our customer-centric approach to everything we do--from store format and merchandising to innovative loyalty programs."

The Harris Teeter name will be retained, and the transaction allows Kroger to enter key markets, such as Charlotte, N.C. and Washington, D.C., without having to build stores from scratch. Officials said no store closings are expected, although there is some "minor" overlap with existing Kroger stores in Raleigh, N.C.; Charlottesville and Hampton Roads, Va.; and Nashville, Tenn.


"We are excited about becoming part of The Kroger Co., one of the best food retailers in the U.S., while maintaining the Harris Teeter banner, our management teams, our new store growth plan, our distribution and manufacturing facilities, as well as our headquarters in Matthews, NC.," says Thomas W. Dickson, Harris Teeter's chairman and CE0." As part of Kroger, Harris Teeter will be well equipped to continue to provide our customers outstanding quality and customer service as well as excellent value in an increasingly competitive market."
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Title Annotation:TRADE TALK
Author:Turcsik, Richard
Publication:Grocery Headquarters
Geographic Code:1U6TN
Date:Aug 1, 2013
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