The nation’s largest supermarket operator is getting three stores in Delaware through the merger with Harris Teeter Supermarkets, Inc.
Under the terms of the merger agreement Kroger will pay Harris Teeter shareholders $49.38 per share of Harris Teeter common stock.
Harris Teeter has stores in Bethany Beach, Millsboro and Selbyville as an extension of its presence in the Washington, D.C. Area. At one point, the chain had looked into opening a store in Newark, but later abandoned that proposal.’
Harris Teeter operates upscale supermarkets and has moved into city neighborhoods in Washington, D.C.
Shoprite later opened a large supermarket south of Newark at the site of a former Pathmark.
Harris Teeter has 227 stores and posted $4.7 billion in annual sales.
“We are pleased that our merger is complete and look forward to bringing together the best of
Kroger and Harris Teeter to benefit our customers, associates and shareholders,” said W. Rodney McMullen, CEO of Kroger. “This merger brings the exceptional Harris Teeter brand and a complementary base of stores in attractive markets to the Kroger family.”
Kroger will keep the Harris Teeter name, a practice it has followed in previous acquisitions.
Kroger has avoided some of the problems of other supermarket chains, such as Safeway, thanks to an ability to add profitable companies and hold its own with Walmart.
Safeway stumbled badly in the Philadelphia area with the purchase of Genuardi’s, a family owned chain. Operating and format changes irritated customers and Safeway closed or sold stores.
Genuardi’s stores in Delaware were converted to the Safeway name.
