Kroger buys Harris Teeter grocery chain for $2.4B – USA Today
North Carolina-based Harris Teeter has been a welcome entry in the D.C. area supermarket scene over the last decade. I like Teeter because they get me through the lines much quicker than Giant and Safeway — a critical factor when shopping with a child. The sales are as good as the other stores, but everyday prices are higher. The sandwiches are also pretty good and there is one walking distance (a bit of a long walk) from my office.
After the deal closes, Harris Teeter will continue to operate its stores as a subsidiary of Kroger, which will then have 9% market share nationwide.
The northeast seems to be one of the few parts of the country that doesn’t have Kroger. I’m really skeptical this will be a good thing for BeltwayLand consumers, though I suppose prices may go down a bit due to economies of scale. As one person put it “is Kroger as yuppie as Harris Teeter?” I doubt it, but we’re probably insulated in the D.C. area since we’re so upmarket (or something).
I wonder how long the Harris Teeter brand survives…