The Kroger supermarket chain acquires its counterpart Harris Teeter for 1,955 million: The Kroger supermarket chain has reached a definitive agreement to acquire the Harris Teeter Supermarkets group at a price of $ 49.38 per share in cash, which means that the operation is valued at around $ 2,500 million (€ 1,955 million). , as reported by the company in a statement.
The KROGER supermarket chain has reached a definitive agreement to acquire the HARRIS Teeter Supermarkets group at a price of $ 49.38 per share in cash, which involves 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.”
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).
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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 the Mid-Atlantic, as well as in Washington DC.
Harris Teeter stores, whose 2012 revenues were approximately $ 4.5 billion (€ 3.52 billion), are located primarily in high-growth markets, tourist areas, and university communities. For further updates to follow Krogerfeedback.pro. Feel free to comment below.