Kroger, the largest supermarket chain in the country, is purchasing Matthews-based Harris Teeter, putting to rest months of speculation about the possible sale of Harris Teeter.
Kroger, which is based in Cincinnati, will purchase all outstanding shares of Harris Teeter in the $2.5 billion transaction that was announced this morning.
What does this mean for consumers?
Harris Teeter said it will continue to operate its 212 stores under its own name and maintain its headquarters in Matthews, Thomas W. Dickson, Chairman of the Board and Chief Executive Officer of Harris Teeter said in the release.
“Harris Teeter has a long track record of creating shareholder value and this merger is the culmination of those efforts over many years. 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 in North Carolina as well as our headquarters in Matthews, NC.
"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.”
What this means for consumers, especially those who use coupons, is a big question mark.
Kroger's stores in the Triangle, which is part of Kroger's Mid-Atlantic region, stopped doubling coupons in May. In stark contrast, Harris Teeter offers every-day double coupons and aggressively offers special coupon events.